Dubai Financial Market-listed Deyaar Development is offering guaranteed returns of 14 percent for a period of two year, or seven percent per annum, on its under-construction project in Business Bay, it said on Sunday.
The returns are being offered to investors buying into The Atria, a 30-storey residential tower and four-star serviced apartment tower, to be operated by hospitality brand Millennium & Copthorne.
Deyaar cited a range of other benefits, such as stays for up to 20 nights annually in serviced apartments, reduced hotel room rates for friends and family and discounts for dining at restaurants.
“The package offers investors the opportunity to own a serviced apartment in one of Dubai’s most cosmopolitan quarters, with 14 percent guaranteed returns over two years and access to a range of luxury benefits,” company CEO Saeed Al Qatami said.
The Atria, which will be completed in the fourth quarter of 2017, overlooks the newly opened Dubai Water Canal.
The hotel tower has 347 serviced apartments while the adjoining residential tower has 219 apartments.
Last week, Schon Properties said it would offer guaranteed annual returns of 12 percent to investors in its iSuites development in Dubai Investments Park.
Dubai’s Deyaar offers ‘guaranteed’ returns on Business bay project