• Danube Properties sells out 393 of the 463 residential units at its latest project Jewelz launched in March 2018, in just two months 
  • Danube Properties delivered 827 residential units worth Dh1.12 billion including 171 townhouses within Dreamz project worth Dh500 million till March 2018
  • Dubai-based developer plans to deliver 880 more units later this year
  • Danube Properties portfolio exceeds Dh3.14 billion involving 3,680 units in 10 projectsDubai, UAE

Danube Properties, a major Dubai-based property developer that launched its tenth project – the Dh300 million Jewelz in March 2018 – has sold out 85 percent of the inventory, or 393 units of the 463 apartments in two months of the launch of the project.

“Jewelz has appealed to the masses in a big way – offering more than 15 percent return per annum that no financial products in today’s market can match,” Rizwan Sajan, Founder Chairman of Danube Group, said. “As a property developer, we have developed the product and the payment plan in such a way that the project appeals to the middle income families with limited income. Jewelz has captured the imagination of the property buyers in a big way. Selling of a project in just two months is a huge achievement in today’s market.”

The Dh300 million Jewelz offers 463 residential units, ranging from studio, one and two-bedroom apartments. The project is attractively located on a plot adjacent to the park with a private entrance leading to the property. The amenities include a fully equipped health club, swimming pool, steam and sauna room, multi-purpose hall, jogging track, barbecue deck, badminton court, paddle tennis court and a high tech surveillance system for the protection and security of the residents.

The building design and architectural aesthetic was created to reinforce the design strategy of Danube, which helps maximise the living space while delivering convenience of community living. The project dedicates 50 percent space to open areas with an emphasis on greenery and landscapes.

Construction of the project, which is currently in tendering stage, will start in summer this year and slated to be delivered before the Expo 2020 mega event in October 2020.

The launch of Jewelz takes its total development portfolio to 3,680 residential units, worth Dh3.14 billion.

Atif Rahman, Director and Partner of Danube Properties, says, “The attractive 15+ percent return on investment (RoI) has attracted a lot of property buyers and investors to invest in Jewelz as it offers one of the highest returns on investment in Dubai’s real estate. In addition to its location and the five-star facilities, Danube’s industry leading 1 percent per month payment scheme has helped attract a large number of new home buyers – who were earlier priced out of the market due to the abundance of luxury properties flooding the market.

“With our smart marketing and 1 percent per month payment, we were able to offer luxury at an affordable price. However, the monthly payment has also lessened the buyers’ burden of payment and that has encouraged the middle income families to put their life savings at our properties.

Danube has delivered 827 properties so far including the handover of Glitz Residences 1 and 2 with 302 and Glitz Residences 3 involving 354 residential units and 171 townhouses at Dreamz project till March 2018. It will deliver a further 870 units later this year.

Danube Properties, part of the Danube Group, entered Dubai’s real estate market in June 2014 with Dreamz at Al Furjan – which was sold out at launch. Established in 1993, Danube Group, the UAE’s largest supplier of building materials and home furnishing, this year celebrates 25th anniversary.

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.

Danube Properties has so far launched ten residential projects, of which four have been delivered, two 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.

Danube Project Development Fact-Sheet

Danube Projects

Residential Units

Development Value

Status

Dreamz

171 Townhouses

Dh500 million

Delivered

Glitz Residence I

151 Units

Dh135 million

Delivered

Glitz Residence II

151 Units

Dh135 million

Delivered

Glitz Residence III

358 Units

Dh350 million

Delivered

Starz Tower

454 Units

Dh300 million

Delivery in 2018

Glamz Residence

426 Units

Dh270 million

Delivery in 2018

Miraclz Tower

599 Units

Dh400 million

Under Construction

Resortz Tower

444 Units

Dh300 million

Under Construction

Bayz

463 Units

Dh450 million

Tendering Stage

Jewelz

463 Units

Dh300 million

Launched

Total 10 Projects

3,680 Residential Units

Dh3.14 billion

Development/Delivery

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 3,680 units, with a combined value exceeding Dh3.14 billion. It is delivering about 830 units in 2017-18, with a combined sales value of Dh1 billion – or a third of its portfolio value.

About Danube Group

Established in the year 1993, Danube Group was founded and cultivated under the leadership of Rizwan Sajan, who is the known to be the Founder and Chairman of the Group. Starting off as a small trading firm, the company is moving from strength-to-strength, expanding its foothold in the region, and has established itself as the No. 1 building Materials Company along with other branches under its vast umbrella.

In 2015, the company recorded a turnover of Dh5.14 billion and has been growing ever since. Moreover, Rizwan Sajan was ranked 12th among the ‘Top 100 Indian leaders in the UAE’ List by Forbes Middle East.

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 more than 1,800 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.

For further information, kindly contact:

Nazneen Kassabwala

Danube Properties Head Office

Sheikh Zayed Road, P.O. Box 113806, Dubai UAE

Tel       : + 971 4 312 2700

Fax       : + 971 4 399 8222

Cell      : +971 56 5369952

Email   : pa@danubeproperties.ae

Web     : www.danubeproperties.ae

© Press Release 2018

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