Dubai: For the first time in nearly 10 years, visitors to Cityscape Global 2017 can book a property at the developer stands if something catches their eye. So, what is so special about that, one may ask.
A Dh1.3 million Just Cavalli branded property for one, which is what Damac Properties is offering as raffle prize to anyone putting up Dh500,000 and multiples thereof for its residential offerings. The winner will be identified on September 13, at 6.30pm, to be precise. Damac, incidentally, is also providing Mercedes-Benz cars on the purchase of select villas within their project portfolio.
That’s right, developers are prone to become even more generous than they are now during the three-day run of the event. They believe that going all out is likely to tilt more buyers into putting up their booking amounts now than later.
If it is not a raffled home to be won, there are extremely favourable payment schemes. Jumeirah Golf Estates is continuing its 1 per cent monthly instalment plan during the construction phase of its Alandalus residences. The offer was initially launched during Ramadan. The final balance of 70 per cent will be due on handover in the third quarter of 2019.
Waiver
The plan is applicable to the full range of one- to four-bedroom apartments, with prices starting from Dh685,000. UAE Nationals can get a 2 per cent waiver on Dubai Land Department fees on the purchases.
Azizi Developments, which will be launching Phase 2 of its Dh12 billion waterfront project, is doubling down with an 8 per cent net rental guaranteed return over the first three years. The second phase features 17 buildings and more than 4,000 units in Meydan One.
Add all these incentives to what developers are offering through extended payment plans and it all adds up to a bonanza for property buyers getting in now. Developers are doing so because they only have signals from the market of a boost in buyer interest. But it is not enough until now to sustain a clear and sustained upturn. That will have to wait a while yet.
But if Cityscape Global 2017 gives off enough indications that one is around the next corner, Dubai’s developers can live with that.
