This Dubai Shopping Festival, buy a house, get a BMW free

The Dubai Shopping Festival 2017 began today, and it couldn't have had a bigger start.

Damac Properties is offering a brand new BMW or another luxury car to anyone who buys a luxury apartment starting Dh599,000.

Niall McLoughlin, Senior Vice President, DAMAC Properties said: "We're pleased to offer investors a unique opportunity to experience the pleasure of luxury with Damac and drive away in a BMW or another luxury car, when they invest in a property across select luxury developments in Dubai. From luxury apartments overlooking Dubai Canal to branded residences in Dubai Marina, this offer allows property buyers not only to live the luxury, but to drive it too."
Another BMW deal on offer is at Dragon Mart 2. Customers can spend Dh200 or more at any Dragon Mart 2 outlet and stand a chance to win a BMW every week, from December 26 until January 28.
Also read: The biggest deals at DSF 2017

"With the city's development still on the rise, there's no better time than now to invest in property that will show high appreciation in the years to come. With Dubai's real estate returns averaging at 7-9 per cent, easily 2-3 per cent higher than its matured international counterparts like London, New York or Paris, the city becomes a more attractive investment destination. In prime areas, even a 10-12% return isn't uncommon," Damac's McLoughlin continued.

According to recent reports, the UAE's real GDP is expected to grow 4 to 5 per cent between 2017 and 2020. Countrywide contracts worth around $22.6 billion were awarded during the first half of 2016, mainly driven by real estate, power and transport projects in Dubai. The exponential rates of development coupled with a maturing property market that offers strong returns makes Dubai a global hotspot for real estate investments today.

"The market value of Dubai's real estate sector also receives a push from socio-economic factors such as continuous population growth, expanding job markets, rapid infrastructural development, increasing tourism and retail growth -- leading to a boost in the desirability and profitability of real estate," McLoughlin concluded.