Dubai: There will be discounts of up to 20 per cent on homes at select projects during the three-day Dubai Property Festival, which opens April 9. Also on offer for buyers during the event will be 1.85 per cent “profit margins” on mortgage rates.

In addition, free legal services and consultations will also made available, apart from live auctions at Dubai World Trade Centre, which is the venue.

Among the developers who have confirmed are Emaar, MAG and Azizi, while Abu Dhabi Islamic Bank is also participating. The event organisers are looking to kickstart demand for offplan properties after what has been a weak first quarter for such transactions.

“The festival will open up new opportunities for investment through the sale and purchase of property,” said Majida Ali Rashid, Assistant Director-General at Dubai Land Department and Head of the Real Estate Investment Management and Promotion Centre. “It will attract hundreds of real estate professionals and inevitably stimulate the real estate sector.”

According to Dawood Al Shezawi, Head of the Dubai Property Festival Organising Committee, “The banks will be offering exclusive promotions including no registration fees or service charges, and customers can receive pre-approvals during the festival at discounted rates.”