By Andy Sambidge
Developer announces plan to launch 'preferential prices and payment plans' for UAE nationals on selected projects
Dubai-based developer Damac Properties said on Thursday it is launching a promotion of preferential prices and payment plans for UAE nationals.
The initiative will be unveiled on Saturday and Sunday in three venues across the UAE and will be related to projects including Damac's Akoya and Akoya Oxygen, the company said in a statement.
UAE Nationals will be offered "preferential prices and payment plans" on villas at Akoya Oxygen, apartments in Akoya by Damac, and apartments in the Burj and Al Maktoum International Airport areas, the statement said.
It added that Damac Properties will be offering luxury four-bedroom villas at Akoya Oxygen for AED2.22 million ($604,426), without saying how much of a discount this is on the normal price.
"We are pleased to invite UAE nationals to come and learn more about the luxury living experiences in Akoya Oxygen and other Damac projects and are happy to offer them these special rates and terms," said Ziad El Chaar, managing director, Damac Properties.
The events will take place at the JW Marriott Marquis hotel in Dubai, the Intercontinental in Abu Dhabi and the Rotana hotel in Al Ain from 2-10pm on Saturday and Sunday.
Akoya Oxygen is a 55 million sq ft master development in Dubailand with more than half of the community designated to open spaces.
Established in 2002, Damac said it has delivered almost 11,000 units to date and currently has a development portfolio of over 26,000 units at various stages of progress and planning, which includes over 10,000 hotel rooms and serviced hotel apartments.For all the latest real estate news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
In otherwords - now having to discount properties to sell them - interesting - looks like the off plan market is drying up now as well - just like the second hand market - Only a matter of time...
How can this be allowed to happen. In Europe there would be court cases left right and centre. There is no incentive for me to buy a property from Damac. Interesting to see how Damac PR machine will sell this to an international audience.