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DAMAC Properties launches MOD Townhouses to meet demand for contemporary luxury

Real estate investment made easy as 1,2,3; lucrative rental yields await investors

Dubai, United Arab Emirates – 15 December 2016

DAMAC Properties, one of the leading luxury real estate developers in the region, today announced the launch of MOD, a collection of townhouses in the heart of international golf community AKOYA Oxygen. The homes in this community, with a contemporary expression of luxury, are priced to be accessible to a diverse mix of buyers of all nationalities.

MOD townhouses at AKOYA Oxygen will go on sale in Dubai on Wednesday, December 21 at DAMAC Maison Cour Jardin (1st floor) in Business Bay — Al Abraj Street from 4pm to 10pm. Priced at only AED 595,000 with payment over three years, the units present a rare opportunity to own a home in an international golf community, at prices that are less than an apartment elsewhere. Each MOD townhouse features one bedroom, a living room and study, with the added-value feature of a private garden space that buyers will enjoy with these properties.

Niall McLoughlin, Senior Vice President, DAMAC Properties, said: “We are excited to bring to market yet another innovative residential offering within a green community. MOD townhouses uniquely provide first-time home buyers and investors alike with the opportunity to climb onto Dubai’s lucrative property ladder and enjoy the benefits. At this price point, MOD townhouses are accessible to all customer segments, who can fulfil their dream of owning a home and enjoying the luxury and lifestyle of living in an international golf community, rather than buying an apartment.”

“To investors, these properties present a stable real estate asset that can boost and diversify one’s investment portfolio. With the scenario of an ever-growing population in Dubai that require quality homes in greener spaces, capital appreciation and preservation are practically assured. Another compelling reason to make this type of investment is the steady and high-yielding income. Dubai’s typical annual rental yields are currently anywhere from 6 to 10%, outperforming other popular investment cities, and due to its lower price in comparison to the anticipated annual rent, we expect MOD to reap returns at the highest end of this scale,” McLoughlin added.

AKOYA Oxygen is a 55-million-square-foot master development that will showcase one of the greenest living spaces in Dubai. Home to the 18-hole championship golf course by Tiger Woods Design, the eagerly anticipated development boasts easy access to Dubai’s major highways; yet is far enough away from the bustle of the city to offer a tranquil pace of life in a beautiful green setting.

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Further information is available at www.damacproperties.com

DAMAC Properties has been at the forefront of the Middle East’s luxury real estate market since 2002 – bringing luxury living experiences to residents from all over the world. Making its mark at the highest end of stylish living, DAMAC Properties has cemented its place as the leading luxury developer in the region, offering iconic design and the upmost quality. The company’s footprint now extends across the Middle East with projects in the UAE, Qatar, Saudi Arabia, Jordan and Lebanon.

As of 30th September 2016, DAMAC Properties has delivered approximately 16,800 homes. The company has a development portfolio of over 44,000 units at various stages of progress and planning, comprising more than 13,000 hotel rooms, serviced apartments and hotel villas, which will be managed by its hospitality arm, DAMAC Hotels & Resorts. With vision and momentum, DAMAC Properties is building the next generation of Middle East luxury living.

Further information is available at www.damacproperties.com  or join DAMAC Properties on Facebook, Twitter (@DAMACofficial) and YouTube.

For more information, please contact: Niall McLoughlin, Senior Vice President, DAMAC. Tel: +971 4 3731000 │ Fax: +971 4 3732335 │ Email: [email protected]

© Press Release 2016

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