DAMAC Properties bullish on the UAE property market

In line with this belief, DAMAC has announced the launch of 'Executive Suites' - a serviced office tower on the third day at Cityscape Dubai by assuring a 40% rental return guarantee over 3 years for the project.

Speaking at the launch, Peter Riddoch, CEO, DAMAC Properties Dubai said, "We believe Dubai has the potential to become the most expensive commercial real estate destination in the world in the coming years. The demand and prices for office spaces is increasing; a recent report by Gulf News stated a price increase of 74% increase over last year. And according to Colliers International, today Dubai is ranked third in terms of global office real estate construction activity, behind Moscow and Shanghai."

He added:

"In line with these reports and based on our research, we at DAMAC Properties are so confident about the market, we are assuring a 40% rental return on the property over the three years following delivery. We are offering this incentive to our customers as we forecast positive growth trends in the coming years where the market will still be bullish and we are aiming to supply for the growing demand."

Executive Suites', located in Business Bay - the most-sought-after business hub of Dubai - welcomes customers to a completely new concept in working. Customised to suit one's comfort and designed with access to services and facility for effective functioning of an office, the tower promises an ideal location to work among the company of like-minded people. '

Continuing the early bird incentive, a customer buying at 'Executive Suite' during Cityscape between 10:00 am and 12:00 noon will get a DAMAC Properties voucher of Dhs100,000 against its purchase.

The amenities offered at 'Executive Suites' are copying and printing services, dedicated administrative support, managing phones, faxes, emails, audio-conferencing services, reception and concierge services, refreshment facilities, onsite system support and maintenance, broadband connectivity and an extensive range of latest leisure facilities including a roof deck, outdoor swimming pool, lounge, gym and health club facilities like sauna and steam.

In addition to the above facilities, the property also offers its customers with a personalized shopping experience with a whole floor of high-end boutiques. The ample car parking on the ground, podium and basement levels enhances easy accessibility of the tower.