Dubai Prop. woos Harrod customers
Dubai, July 3, 2008
Dubai Properties, in association with Harrods, London’s most prestigious department store, is offering UK investors and consumers an exclusive opportunity to purchase premium property in Dubai.
The in-store promotion, which runs until September 6, marks Dubai Properties’ association with Harrods for the third consecutive year.
This year’s edition includes the global launch of Babil, Dubai Properties’ latest residential development at the Culture Village in Dubai.
A luxury residential tower, Babil comprises a limited edition collection of studios, one and two -bedroom apartments that will be available exclusively through Harrods Estates.
Yaqoob Al Zarooni, deputy CEO Dubai Properties, pointed out that the British buyers now accounted for 12 per cent of international property investors in Dubai.
"The exclusive Harrods promotion represents a unique opportunity for UK-based investors to purchase residences in Dubai through our collaboration with Harrods Estates," he said.
"In addition to increasing an awareness of the company outside of the UAE and establishing our presence in the UK, the campaign offers UK investors and homebuyers the opportunity to purchase property from our portfolio prior to their release in the UAE markets," he added.
In 2007, the Harrods promotions helped Dubai Properties net over Dh150 million in sales, apart from offering excellent brand exposure for the master developer.
“According to estimates released by the Dubai Land Department, British investors own property worth over Dh4.7-billion ($1.3 billion) in Dubai," Zarooni noted.
"With more than 100,000 UK expatriates, close to the current population of the UK city Exeter, living and working in the UAE, Dubai Properties’ high visibility promotion in the UK comes as a logical exercise," he remarked.
“For the first time in 26 years, the pound sterling is at its strongest against the UAE dirham, making it the right time to consider investing in the UAE. Dubai is the financial, business and tourism capital of the region, and has attracted investors from across the globe due to its potential for significant rental yields and the price appreciation of freehold properties,” he added.
Culture Village, which was presented in close collaboration with the London Philharmonic Orchestra in 2007, is fast taking shape as a world-class destination promising an elite lifestyle in an intellectually simulating environment, with year-round world class cultural events.
Covering over 40 million sq. feet in the historic district of Jadaf, Culture Village will comprise residential, commercial and retail zones that incorporate a Palazzo Versace hotel and resort, an amphitheatre for live performances, museums and galleries displaying local and international art, as well as a shipyard for traditional dhow builders.-TradeArabia News Service