Slated for completion in 2020, the AED 297.5 million ($81 million) Jewelz project is is currently at the tendering stage.
“Jewelz Project offers a return on investment that no financial products in today’s market can match,” Danube Group’s chairman Rizwan Sajan commented.
The new development will provide a 15% return on investment annually, according to a statement.
Unveiled in March, Jewelz will comprise 463 units including one- and two-bedroom apartments, a swimming pool and steam and sauna room – along with multi-purpose hall, running track, barbecue deck, badminton and tennis courts.
"The attractive 15% return on investment 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,” director and partner of Danube Properties Atif Rahman said.