Date: Dubai, UAE,  

News Highlights 

  • Danube Properties’ delivery of 354 units at Glitz Residences 3 with a development value of Dh350 million, comes a few months after it handed over Dh270 million Glitz I and II

  • Dubai-based developer delivers 656 units worth Dh620 million by March 2018

  • Danube launched 10th project Jewelz to add 463 apartments worth Dh300 million in March 2018

  • Danube Properties portfolio value exceeds Dh3.14 billion, a fifth of which is now delivered

Dubai, UAE

Danube Properties, a major Dubai-based property developer, today announced the delivery of its third project, Glitz Residences 3 at Dubai Studio City.

With a development value of Dh350 million, the project contains 354 residential units including studio, one-bedroom and two-bedroom apartments – all sold out following its launch in 2015.

With the completion of Glitz Residences 3, Danube Properties will soon start the handover process to customers upon completion of the official formalities, taking the developer’s total delivery of apartments to 656 units, following the handover of Glitz Residences 1 and 2 with 302 residential units last year.

The company earlier this month launched its tenth project, Jewelz with 463 apartments worth Dh300 million, taking its total development portfolio to 3628 residential units, worth Dh3.14 billion.

Danube Properties, which entered the real estate market in June 2014 by launching Dreamz, will also deliver 171 townhouses later this month, taking the total number of deliveries to 827 units, worth Dh1.12 billion, more than a third of its portfolio value.

“The year 2018 will be a year of delivery for Danube as we are planning to deliver four projects that will take the delivery to five of the ten projects that we launched so far,” Rizwan Sajan, Founder Chairman of Danube Group, said. “As a developer, our policy is to develop it right and deliver them as per promise and that’s why people trust Danube Properties. We launch a project when the earlier project is sold out and our unique selling points include on-time and on-quality delivery, in addition to the industry-low 1 percent monthly payment scheme.

“With these deliveries, we are strengthening public trust on our brand and this way, Danube Properties will reinforce its position in the real estate market.”

In 2017, Danube awarded five construction-related contracts with a combined value exceeding Dh392 million a year it started delivering homes. These include a Dh221 million main construction contract recently awarded to Naresco Contracting LLC to deliver Miraclz Tower near Miracle Gardens at Arjan that will host 599 units including 591 apartments. The 28-month contract will see the project delivered by the end of 2019. 

Danube Properties has also awarded a Dh146 million contract for the main construction package for the Resortz project to Dubai Walls Construction. The 17-month contract will see the project gets ready for occupancy by the second quarter of 2019. Resortz will host 444 units including 419 apartments, 25 retail outlets, landscaped environment that appears more like a five-star resort, than a residential compound.

“Timely delivery is very crucial for gaining customer satisfaction as we work for our customers and they remain at the core of what we do. This year, we are delivering Dh1.5 billion worth of projects – the highest in our history,” Atif Rahman, Director and Partner of Danube Properties, said. “The delivery of Glitz Residences 3 demonstrates our ability as a builder and the high-quality finishing tells the level of quality and the attention to details by us.

“These deliveries raise our position as a top quality and committed developer.”

Danube Properties, part of Dubai-based diversified conglomerate Danube Group, has launched ten residential projects, of which three have now been delivered, while three more are getting ready for delivery while four others are at various stages of construction and one in tendering stage.

The company has one of the fastest development-to-delivery ratio in the region’s real estate market where timely delivery of properties remains a major challenge. That way, Danube Properties’ performance in construction and delivery is helping strengthen buyers’ trust in real estate.

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About Danube Properties

Danube Properties, part of the Danube Group, made its foray in to the real estate market in June 2014, by launching the Dh500 million 171 townhouses at Al Furjan. Since then, it continued to expand its development portfolio by launching Glitz Residence I, II, III, Starz, Glamz, Miraclz, Resortz, Bayz and Jewelz projects.

The company currently has a development portfolio of 3,628 units, with a combined value exceeding Dh3.14 billion. It is delivering about 831 units in 2017-18, with a combined sales value of Dh1 billion – or a third of its portfolio value.

About Danube Group

Danube Group traces its origin through Danube Building Materials. Established in 1993, the company provides more than 25,000 products in stock and in-house value added services in all of its multiple set of showrooms across the Middle East region and India. The company operates from its head offices in JAFZA with logistics facilities across the region which amounts to 5.5 million square feet and includes kiln drying facility, factory and warehouses of the group.

From a small trading firm, Danube has grown into one of the largest building materials company in the region, with its diversified branches worldwide including UAE, Oman, Bahrain, Saudi Arabia, Qatar and India, in addition to procurement offices in China and Canada. Danube has a team of 1,800 plus people working across strategic locations across the GCC and India.  

Among its flagship companies, Danube Home – the Home Interior Retail arm – has showrooms in major shopping malls across the region and in India. In UAE it has showrooms in Sheikh Zayed Road, Dubai Festival City, Bawadi Mall – Al Ain, Abu Dhabi and standalone outlets in RAK, Fujairah and Abu Dhabi as well. In Oman we have 5 showrooms (Salala, Nizwa, Sohar, Baraka and Al Khuwair). Danube Home has a showroom in Bahrain – Salamabad as well.

© Press Release 2018