Using Celebrities To Fool Smaller Investors – David and Victoria Beckham to Buy More Property in Dubai

With property values tanking in Dubai, Nakheel have now gone to the trouble of suggesting that David and Victoria Beckham “have shown interest in increasing their property portfolio in the UAE.”

This secret news was leaked to Emirates Business last week.

Every one involved in the real estate business is well aware that the Beckhams were given the one property they own on The Palm Jumeirah. Presumably the thinking is that it must be a safe investment if a footballer is investing there,and the hope is to convince small investors their investment is safe as houses…….. This is the news release -

Footballer David Beckham and wife Victoria, who yesterday left Dubai after a week of training with AC Milan, have shown interest in increasing their property portfolio in the UAE, Emirates Business has learnt.

Property developer Nakheel said Victoria, a former member of the hugely successful Spice Girls, was given a presentation on The World archipelago off the emirate’s coast. “Victoria Beckham visited the Nakheel Sales Centre this week for a VIP presentation on The World,” the spokesman said.

“The company respects the privacy of its clients. It would be inappropriate to comment any further at this stage,” the spokesman said.

Meanwhile, international news reports claim Emaar approached David to invest in its 820-metre Burj Dubai, the world’s tallest building. The Beckhams already own a waterfront villa on The Palm Jumeriah.

Source

One has to wonder at the level of duplicity from the Dubai developers. And all this does is cast more doubts on the viability of Dubai as an investment destination. Surely no one is silly enough to buy property because their favorite footballer gets a freebie? Or maybe they are……….