Dubai developer Damac Properties is offering free luxury cars to new buyers of select properties in the emirate as part of its annual Dubai Shopping Festival promotion.
New buyers of selected villas or apartments will receive the 2016 models of Lamborghini Huracan, BMW 730i, BMW X6 xDrive 35i or other luxury cars depending on the type of the property purchased.
Prices of the properties start from Dhs 692,000, Damac revealed in a statement.
The promotion is available for buyers of golf course-facing villas in the AKOYA by DAMAC master development, private apartments with interiors by FENDI Casa within DAMAC Residenze in Dubai Marina, luxury serviced apartments in the Burj area and Versace-styled villas on the Palm Jumeirah, among others.
Eligible buyers will get their respective car upon the payment of 20 per cent of the price of the selected property or they can opt for a cash discount, the developer said.
Damac offered similar extravagant offers during the pre-crisis years in Dubai and restarted the trend in the recent years as part of the annual DSF event.
Dubai’s property market has slowed down in the past year following a sharp spike in prices and increased supply in the market. Experts anticipated that prices fell by between 10 to 20 per cent year-on-year in 2015 within the emirate’s residential sector.
However, Damac said it is optimistic about growth in the sector this year.
Senior vice president at Damac Niall McLoughlin said: “During the past years and until today, Damac Properties spearheaded the promotion of Dubai and its real estate offering internationally in many cities around the world showcasing the experience of luxury living in Dubai and its financial benefits in terms of return on investments.
“This is based on our belief in the strong and sustainable status of the real estate market in our home city. The market position will be reinforced by the low supply of units expected in 2016. This will be the second consecutive year where the numbers of completed units delivered to the market will be below industry ‘experts’ expectations,” he said.
Damac, which came under the limelight recently for its association with the Trump organisation, has partnered with several luxury brands including FENDI and Bugatti for its developments.
The company has delivered 14,375 homes and has a development portfolio of over 37,000 units at various stages of progress and planning as of September 30, 2015. That includes more than 13,000 hotel rooms and serviced hotel apartments under development, which will be managed by its hospitality arm Damac Hotels and Resorts.