News Highlights
1. Danube Properties achieves completion of 454 units in Starz and pre-completion of Glamz at Al Furjan.
2. With these two deliveries, Danube Properties will have delivered 1,711 residential units, worth Dh1.69 billion
3. Danube Properties’ development portfolio includes 12 projects involving 5,019 units, with a combined sales value of Dh3.82 billion.
4. Danube Properties market share rises to 10.6% in Dubai’s off-plan real estate market in 2018
Dubai, UAE: Danube Properties today achieves the completion of 454 units in Starz and pre-completion of 426 residences in Glamz – its fifth and sixth residential projects – that is being celebrated at a glittering ceremony with a series of laser shows and fireworks that light up the sky.
Both the projects – Starz and Glamz – were launched and sold out in 2016 and completed in record time in 2019 that reflects the developer’s strong commitment to customers. Once the planned hand-over of 880 units in Starz and Glamz are completed, Danube Properties will have delivered 1,711 residential units, worth Dh1.69 billion, part of its portfolio of 5,019 residences, worth Dh3.82 billion, in less than five years after it launched its maiden project – Dreamz in June 2014.
Built with the latest green and sustainable building technologies, the smart homes within both the projects are fitted with the latest state-of-the-art facilities and amenities including built-in wardrobes, the latest modular home furnishings with upgraded materials used during the construction phase – more advanced than those promised during the launch of the projects.
The 880 homes comes with the best-in-class lifestyle amenities, including fully-fitted gymnasium, health club, swimming pool, large reception area, community areas with landscaped greenery, ample car parking and other facilities – all offered at a very affordable price and with a 1 percent monthly payment plan.
Once handed over, the residents will also enjoy easy access to Dubai’s public transport with a metro station within 2-minutes walking distance from the Glamz and three minutes from Starz. Residents will be able to reach the Expo 2020 site in just 7-10 minutes through the metro station and catch a flight at Al Maktoum International Airport – which could be reached in 15 minutes from the nearest metro station.
“As we move closer to the Expo 2020, we see renewed confidence in the UAE real estate market. The complete sell-out of our projects reflect a strong investor confidence in not only the Dubai real estate market, but also in Danube Properties,” Rizwan Sajan, Founder and Chairman of Danube Group, says. “Today we are not only delivering homes, but delivering promises we made to home buyers who have put their faith in us.
“We are a firm believer in the long-term sustainable development of real estate projects and there is no better market than the UAE, especially Dubai. With our projects, we have defied the odds and demonstrated our ability in offering affordable homes that have been snapped up by buyers.
“Despite some negative perceptions about the market, I am happy to announce that all our properties have been well received by buyers and are sold out. As the market matures, we see good opportunities in the market in which developers with long-term commitment will do well.”
Danube Properties’ new home deliveries come at the backdrop of its stellar performance in 2018 – its best year so far – when a whopping 78.5 percent jump in sale of the number of residential units has boosted Danube Properties’ market share of off-plan sales to 10.6 percent in 2018, compared to the 5 percent in 2017.
The company last year sold a total of 1,869 residential units, according to its annual report. Among the total number of properties sold by Danube Properties, 89 were ready-to-move-in while the rest 1,780 units were off-plan properties. The sales price of 1,869 units increased by 19.26 percent to Dh978 million last year, compared to the sales price of 1,047 units worth Dh820 million in 2017, the report shows.
Atif Rahman, Director and Partner of Danube Properties, says, “A developer’s strength of character and commitment reflects on the quality of construction and the number of project deliveries. Our record of continuous development and timely delivery of properties speaks volumes about our strong commitment to quality, timely delivery and our solid commitment to our home buyers.
“Today marks a great milestone in the history of Danube Properties as we will be delivering six out of the 12 projects launched by us, in less than five years. Our launch-to-delivery ratio is one of the highest in this region.”
All the apartments within Starz and Glamz are offered at an affordable price and with a convenient payment plan of 1 percent – something that Danube has pioneered in the UAE’s real estate market.
“However, we have not compromised on quality. What Danube has achieved over the last five years, is that it has changed the perception of affordable homes. What we are offering is – affordable luxury. Our properties are luxury properties, but offered at affordable price.
“With the launch of Starz in 2016, we pioneered in introducing specially designed modular furniture. This will help the residents maximise the use of available space by converting the living room into a bedroom at night. We remain committed to deliver happy communities with phenomenal value addition. I am confident, buyers of properties in Starz and Glamz will be extremely delighted with the quality of finishing and timely delivery,” Atif Rahman concludes.
Danube Properties has so far awarded Dh1.6 billion worth of construction contracts involving 10 of the 12 projects launched so far. In 2018, Danube completed construction of 358 residential units while it awarded construction contracts for 926 units.
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, Jewelz and Lawnz 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:
Farah Harb
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 9947928
Email: farah.harb@danubeproperties.ae
Web: www.danubeproperties.ae
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