Premier Estates Maloney now have 50 car parking spaces for sale in Dubai for €15,000 each and with an estimated rental income of €3,000 to €5,000 per annum, this means that within a few years, your investment is paid off and you are sitting on an annual, potentially rising income stream.
Irish investors can put down an initial payment of €6,000 to secure the space inside Empire Heights, which is a new high rise retail and office tower in the heart of Dubai.
“Car parking in Dubai at the moment is at a premium,” said Michael Maloney, director of Premier Estates Maloney. “There are in excess of 200 tower blocks currently under construction in Business Bay, many of them without car parking, so the demand will be even higher once the blocks are completed.”
Maloney says that this is an opportunity for all types of investors to invest in this project as they can purchase from as little as one car parking space, up to a maximum of the amount of spaces left to purchase. Already there is tremendous interest in this investment due to the excellent potential returns.
Cyril Burke, Premier Estates Maloney director, describes car parking spaces in general as a “great investment worldwide”.
“You also have a hassle free investment, as there is very little maintenance with car parking and there will be a company set up to manage the entire car parking within the building. With a massive shortage of car parking in most major cities, the demand always exceeds the supply,” advised Burke.
“Spaces in Business Bay, Dubai are currently commanding a rental income in excess of €3,000 per annum and this is expected to increase, as occupancy of the tower blocks takes place,” he added. “It is widely expected that the value of the spaces will also increase over the next few years, as the buildings are completed and occupied, the demand will be even greater.”
Michael Maloney added that even more tourists and business travellers are set to come to Dubai over the next few years, because it will have one of the busiest airports in the world with an estimated 60 million passengers moving through Dubai World Central International Airport along with the opening of many more theme parks in Dubailand. This means, Maloney and Burke emphasise, even greater demand for car parking spaces in the future.
For more information on this exciting investment contact Premier Estates Maloney, IPI Centre, Castlebar on 094 902 7300 or log onto www.premierestates.ie