Damac Properties Confident About UAE Property Market.

 

Damac Properties, the Dubai based property developer has stated that the UAE is currently one of the worlds best markets for real estate investment and returns.

 

Peter Riddoch, CEO of Damac Properties says, "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."

 

 

This week saw Damac Properties launch its new serviced office tower in Business Bay in Dubai. The Executive Suites, which were launched at the Cityscape 2008 exhibition, guarantee investors a 40% return over 3 years, and will be located in the heart of Business Bay, Dubai's main commercial centre. 

 

The Damac Executive Suites will offer residents a full range of administrative support including copying and printing services. It will also include a wide range of on-site leisure facilities including a roof deck, gymnasium and an outdoor swimming pool.