Dubai-based property developer attracts mostly end-user property buyers and championed property purchase amongst middle-income households

Danube Properties, which launched eight projects in three years with a combined development value exceeding Dh3 billion, announced that it has sold out 75 per cent of the Bayz project at Business Bay, within four months of the project’s launch.

Bayz was launched on May 14, 2017, during Ramadan.

“I am happy to announce that we have sold out 340 apartments of the 456 residential units of Bayz within four months of the project’s launch,” Rizwan Sajan, Founder Chairman of Danube Group and Danube Properties, said at the sidelines of Cityscape Global Exhibition that is taking place from September 11-13 at the Dubai World Trade Centre.

“Selling 75 per cent of a project during Ramadan and summer holidays is not an easy matter and it reflects the success of Danube Properties’ teamwork and our strong appeal of the benchmark 1 per cent monthly payment scheme to the end-users – who can now look forward to buying a property in Dubai with their limited monthly household income.

 “Our success in selling out projects – one after the other – reflects the growing demand for affordable luxury homes, the game-changing 1 per cent monthly payment plan and timely delivery of properties. All these factors help families with an average household income of Dh15,000-Dh20,000 to plan and buy their dream homes in Dubai.”

 Studio units in the 29-storey tower with views of Burj Khalifa and Dubai Canal, have been priced at Dh650,000 and comes with a monthly payment plan of Dh6,490. This is the lowest price per unit within the Business Bay – the new business district of Dubai.

Construction of the project – which is at tendering stage, is scheduled for completion in 2019. Each of the Bayz apartments comes fully furnished with marble flooring in the living and dining area, modular kitchen, exquisite Spanish tiles, and top-notch finishes. Furthermore, every home will include a European technology enabled convertible sofa that makes way for a bed- tucked into the wall. 

 The announcement comes within less than a month after the developer completed Glitz I and Glitz II with a combined development value of Dh350 million within two years of the sales launch.

 Owners of all the 302 sold-out units will soon start taking deliveries of their units as Danube prepares to welcome its customers – happy homeowners.

 Since making its foray in real estate market in 2014, Danube Properties has launched 3,217 units (Including 3,165 Residential units and 52 Retail units) split in to eight projects.

 Danube Properties, the real estate development arm of Danube Group – the largest building and home furnishing products suppliers in the Middle East, is scheduled to deliver a total of 831 units – worth Dh1 billion – this year, once approved by various government bodies.

The company, which sold nearly a Dh1 billion worth of projects last year, continues to defy the odds as it strengthens its real estate portfolio – currently its biggest – in addition to building materials, interiors and home furniture, fashion, retail, food and beverage.

The company has launched two major projects – the Dh300 million Resortz and the Dh450 million Bayz – in quick succession earlier this year. Construction of Resortz has already started while Bayz is undergoing tendering phase. These two projects, worth Dh750 million are part of the 68 real estate projects registered with the Dubai Land Department, with a combined development value of Dh21 billion, during the first half of 2017. 

All its existing projects are expected to be delivered by the end of 2019, as per the development plan.

“The most important aspect of property development business is to be able to deliver projects on time, on budget and with the best quality within that price range to happy customers. Today, I am happy to welcome home owners and families to their freehold homes – developed by Danube,” Sajan said.

Danube Properties made its foray in to the real estate market in June 2014, by launching the Dh550 million 175 townhouses under Miraclz at Al Furjan. Since then, it continued to expand its development portfolio by launching Glitz Residence I, II, III, Starz, Glamz, Miraclz, Resortz and Bayz projects.

The company currently has a development portfolio of 3,217 units, including 3,165 residential units with a combined value exceeding Dh3 billion. It is delivering about 831 units in 2017, with a combined sales value of Dh1 billion – or a third of its portfolio value.

Danube Project Development Fact-Sheet

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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.

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 Dh550 million 175 townhouses under Miraclz at Al Furjan. Since then, it continued to expand its development portfolio by launching Glitz Residence I, II, III, Starz, Glamz, Miraclz, Resortz and Bayz projects.

The company currently has a development portfolio of 3,217 units, including 3,165 residential units with a combined value exceeding Dh3 billion. It is delivering about 831 units in 2017, with a combined sales value of Dh1 billion – or a third of its portfolio value.

For further information, kindly contact:
Anamika Priyadarshi
Head of Corporate Communications
Danube Group Corporate Headquarters
Jebel Ali Free Zone
PO Box: 18022, Dubai, UAE
Tel        : +9714 8085522
Email    : anamika.priyadarshi@aldanube.com  

© Press Release 2017