Staff Report,
Dubai, UAE
Dugasta Properties, a new Dubai-based real estate developer, has launched its brand identity, introducing an investment scheme that is not only secured, but also guarantees higher returns than the usual market value. A number of Bollywood celebrities led by brand ambassadors Sonu Nigam and Elnaaz Norouzi graced the launch with their presence and joined Mr. Tauseef Khan, Founder and Chairman, Mr. Assad Khan, President, and Mr. Azaan Khan, CEO of Dugasta Properties, to announce the arrival of the new developer.
Dugasta Properties is the successor of City Properties that has already delivered two projects – Al Haseen Residences 1 and 2 – next to Al Maktoum International Airport. The brand has launched a secured scheme for buyers who can reap 8 percent annual return on investment in the first five years – followed by a buy-back option after the fifth year to sell off the properties back to the developer. Investors can enjoy the benefit of waived service charges in that period. The scheme comes with a motive to cater to the interests of middle income families, who are the largest target market of the industry. With ready-to-deliver units that are both affordable and quality-checked, Dugasta Properties ensures a secured investment for its buyers.
Al Haseen Residences 1 and 2 are mid-rise buildings comprising 217 units priced as low as Dh342,000 (US$93,188) for a studio and Dh1,099,000 (US$299,210.44) for a two-bedroom apartment. The residences’ strategic location close to Al Maktoum International Airport, which has a capacity of 160 million passengers per annum, will catalyse doubling, or even tripling of apartment prices in the next few years, given that the large-scale development of the area will result in demand for homes.
“Today we are not launching just a name or a logo, but we are launching a concept, a brand that will change the real estate market and bring properties close to the largest market segment – the middle-income families – by offering high-quality affordable homes and making them affordable for them,” Mr. Tauseef Khan, Founder and Chairman of Dugasta Properties, said.
“As soon as a buyer signs up the agreement and pays the full amount, we register the property under his or her name and the next day, we will sign the quarterly rental cheques for five years and hand it over to the property buyer or investor. It is as simple as that.,” Tauseef Khan says.
“We are already getting 8 percent rental return from the properties and we want to share this with property buyers. On top of that, the investor/buyer is exempted from paying service charges for the first five years. You can’t have a better deal than this.”
Dugasta Properties stems from a well-established business group that includes City Tower Real Estate that manages more than 7,000 residential units in different parts of Dubai. Founded and led by Mr Tauseef Khan, the group has established a legacy of more than three decades, offers all aspects of property management including sales, purchase, re-sale, leasing, maintenance – soft and hard maintenance services.
Mr. Azaan Khan, CEO of Dugasta Properties, says, “At Dugasta, our ambition is to make zero-risk investment a reality. We deeply recognise the importance of safeguarding our investors, ensuring that we protect them from uncertainties. Every investment made with us translates into a promise of greater returns. This is our sincerest pledge-that you can place your faith in us, confident in the knowledge that we will strive tirelessly to enhance your investments.”
On a personal note, Mr. Tauseef Khan pays homage to his mother by naming Al Haseen Residences after her.
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