DAMAC Properties to give its customers a one-in-ten chance to win cash

The innovative company's revolutionary campaign, which is believed to offer the best odds of winning ever seen in a raffle promotion in the region, will also benefit charity.

Hussain Sajwani, Chairman of DAMAC Properties and the DAMAC Group, said the promotion comes in the charitable spirit of Ramadan, and under the umbrella of the "Dubai the City that Cares 2004" festival organized by the government of Dubai through the Dubai Chamber of Commerce & Industry (DCCI).

"We have been witnessing tremendous success since the launch of our properties division, and we wanted to give something back to the community and at the same time to express our appreciation to the government of Dubai for opening the doors to local companies to grow their business," Sajwani noted.

Peter Riddoch, CEO of DAMAC Properties, said the company will be giving away between AED 15 and 20 million (US $4.1 million to 5.4 million) in credited prize money to between 30 and 40 winners during the promotion, as it expects to sell between 300 and 400 apartments in that period.

He pointed out that if the company's sales forecast materializes, it expects to donate between AED 1.5 and 2 million to the organizers of "Dubai the City that Cares" for distribution to the charitable organizations who are the official beneficiaries of the campaign.

"We are very proud to be able to bring this promotion to the public during this holy month as it will not only bring happiness to the lucky winners, but it will also bring joy to the thousands of needy people who will benefit from our donation to the beneficiaries of Dubai the City that Cares," he added.

Explaining the concept of the promotion, Ehab S. Shouly, DAMAC Properties' Senior Vice President for Marketing, said that for every ten apartments sold during the period of the promotion, the company will enter the names of the 10 buyers into a raffle draw.

"We will credit a maximum of AED 450,000 against the remaining amount due to be paid by the winner towards the price of the apartment after subtracting the down-payment that he or she already paid to qualify for the draw. The other Dh 50,000 will be paid in the winner's name to Dubai the City that Cares," he said.

However, if the balance outstanding towards the apartment bought by the winner is less than Dh 450,000, DAMAC Properties will credit only the full outstanding amount to be paid towards the cost of the unit. This means that the customer would become the owner without having to pay anything further.

To be eligible to join the raffle draw, Shouly noted, customers have to make a full down-payment which is equivalent to 15% of the price of the apartment they are buying, for which they will be given a period of seven days from the date of booking the unit and placing the security deposit.

He added that only customers who confirm their purchase by paying the down-payment will qualify to join the raffle draw, and the company will start conducting the draws as soon as the first ten customers qualify. "For every ten customers thereafter, a raffle draw will be held," Shouly said.

Should the number of the last group of eligible customers be less than ten by the time the promotion ends, DAMAC Properties shall extend the validity of the promotion till the number reaches ten, and then the final raffle of the series will be held. All draws will be held under the supervision of DCCI officials.

Nuha Safar, Chief Coordinator of Dubai the City that Cares, expressed the DCCI's appreciation of DAMAC Properties' "One-in-ten Promotion", and welcomed the company's initiative. "It's great to see local companies like DAMAC embracing the spirit of this holy month, and joining hands with the Chamber to help people in need through donating to the official beneficiaries of Dubai the City that Cares 2004," she said.

The promotion, which will run till the last day of the Eid Al Fitr holidays which come right after Ramadan, will further enhance DAMAC Properties' reputation as one of the most innovative marketing companies in the region, and add to its status as the largest private property developer in the UAE.

"We had the biggest promotion during the Dubai Shopping Festival (DSF) earlier this year, and we believe our One-in-Ten promotion will be the biggest this Ramadan. It's a warm-up to our DSF 2005 promotion and will give people a flavour of what we're preparing for the coming shopping festival," Shouly said.

The "One-in-Ten" promotion kicks off a major marketing offensive for DAMAC Properties, and marks the start of a new phase in its evolution, during which it will position itself even more distinctly than other property developers in Dubai, and focus on the premium segment of the market.