Premier Estates Maloney has secured 50 more car parking spaces in Dubai for the Irish market. Empire Heights is a 20 storey twin tower block in the heart of Business Bay, Dubai. The building is situated only a stone’s throw from the Burj Tower, the tallest tower in the world, which is set to open in the next three months.
Construction on Empire Heights commenced in late 2008 and is to be completed in March 2011. Car parking is a very scarce commodity in Dubai, especially in the Business Bay area. As it is not a legal requirement to provide car parking facilities with office space, the scarcity of car parking spaces is set to continue. As demand out strips supply, rents will soar.
It is true to say that a number of projects have currently been put on hold because of the banking crisis or the lack of funding. However this is only a temporary measure. In fact, it is having a very positive effect on rents being achieved for properties that are just completed, as demand is exceeding supply.
Recession or no recession, Dubai is full steam ahead, with the population expected to increase to 4.5 million by 2015.
What are driving Dubai and will drive Dubai in the future are oil and commerce, as a city half way between the Far East and the EU/US, and tourism, with the emergence of some 400 million wealthy Arab, Chinese, and Indian population within a three hour flight.
Premier Estates Maloney is offering you the chance of reaping the benefits of this economic boom in Dubai by purchasing car parking spaces at Empire Heights for as little as €15,000.
To purchase, an initial deposit of €6,000 is paid with the balance of €9,000 on completion of the building in March 2011. Rent of €3,000 to €5,000 a year is expected which will give a massive yield on your investment. There will also be an opportunity to sell on your spaces on completion which may yield an excellent return.
To see the development under construction, visit www.gpdinvestments.com For more details contact Premier Estates Maloney, Michael or Cyril at 094 902 7300.
