This might all seem a little familiar, if so it is because this isn't the first offering, you may well have seen this before. Malahide based Deluxe Properties has announced that it is, once again, on the hunt for property in Dubai and the neighbouring Emirate of Ras Al Khaimah (RAK).A new ‘Buy Back’ scheme aimed at Irish investors seeking to sell on their investment properties in Dubai has been launched by Irish based Middle East property investment company, Deluxe Properties who are located in Malahide, Co Dublin.
The company says it has raised €25m from its investors who are actively seeking properties from Irish investors who, for whatever reason, cannot complete on purchase.
It is looking for a mixture near construction and already constructed units in the Emirate. Be wary though, if you're expecting to make a killing. The company states; “we buy and sell property in the Middle East and we buy not just from developers but we buy back properties from distressed buyers seeking a quick exit strategy." 'Distressed sellers do not make money out of property but if you're stuck with a property in Dubai and need to get out it might be an option, even if it is not necessarily a very lucrative one.
The areas and developments in question are Dubai Marina, Jumeirah Lake Towers, Jumeriah Beach Residence, Palm Jumeirah, Palm Jebel Ali, Jumeirah Islands, Victory Heights and Business bay. The company is also interested in developments in the smaller Emirate of Ras Al Khamiah (RAK).
You'll find the full story here.
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