DAMAC offers Rental Guarantee!

[Rammah]

Due to our investors' constant demand for Rental Guarantees Schemes, we have brought to you this September news:

[*]Starting from the 1st September 2008 to 30th September 2008.
[*]DAMAC is providing a 24% Rental Guarantee (8% per annum for 3 years) on ANY unit booked from a project in Dubai & Solitaire in Abu Dhabi during the above mentioned dates. This excludes projects on launch, sold on any other promotion, property Souk etc.
[*]The customer can either opt for a 10% discount or the rental guarantee of 8% per year.
[*]In Addition to the above the customer gets a Free Vertu™ Constellation Mobile Phone. [Very Exclusive brand phone]!

I hope you all share with me the idea that it's a great news.

Best regards,



Rammah

[docc]

Hi,

Thank you for the info.

Isn't 8% per annum pretty much standard on most apartments? So, why would this Damac deal be considered lucrative?

Regards.

[Rammah]

Hi Docc,

I personally see it lucrative for few reasons:

1- Many if not most first time rental investors in Dubai would always feel much safer having such a scheme! Especially when they are here in the UK, or anywhere outside the Middle East. It's kind of the re-assurance.

2- As you may know, DAMAC properties hold a premium being commited to delivering the highest available standards at any given time. Therefore, DAMAC prospects sometimes live a dilema of wanting a luxury product at a premium, but needing the certainty of having a rental market which will also evaluate this luxury and pay more for it. This scheme gives that issue a solution!

3- 8% is acheivable in TODAY's rental market, but since investors are buying off-plan, we are mainly talking of a rental market in the FUTURE [up to 5 years ahead of today]! Therefore, this resolves the issue of a doubt that may occur in investors mind about the "future" prospects of that rental market, especially with the caps that are being implemented by the government every year on the rental increases!

4- Let's not forget the free Vertu phone that comes with the offer! That's surely an added value to the lucrativity of the offer!

I hope the answer above was convincing enough, and I welcome any objection!

Best regards,


Rammah