Dubai-based developer Danube Properties’ development portfolio grows to 4,744 apartments, worth Dh3.69 billion
- Danube Properties sold out 1,032 units at Lawnz at the International City, including 350 units snapped up in 4 hours!
- Danube Properties offered studios starting from Dh290,000 at Lawnz
- Danube Properties delivered 831 residential units worth Dh1.12 billion by March 2018
- Dubai-based developer plans to deliver 880 more units later this year
- Danube Properties portfolio exceeds US$1 billion involving 4,744 units in 11 projects
Dubai, UAE, August 07, 2018: Danube Properties, a major Dubai-based property developer, announced that its latest project – the Dh550 million Lawnz – has been sold out within five days of its launch.
The project’s Phase I, which was launched on June 20, 2018 – right after the holy month of Ramadan and Eid celebrations, created a massive interest amongst the home buyers – who sees a greater value in Lawnz project – a gated community that provides all luxury community facilities and services – at a very affordable price that starts from Dh290,000.
“The sell-out of the Lawnz in the hot summer months – a very quiet and low season for business – is a live demonstration of the public faith in the Danube brand and the customers’ confidence in our ability to deliver quality homes at an affordable price and on time, which is very crucial for the end-users who invest their life savings with us,” Rizwan Sajan, Founder Chairman of Danube Group, said.
“This is also a strong testimony of the fact that there is no shortage of buyers if the properties are offered at the right location, right price, right payment plan and the right delivery schedule. Our industry trend-setting 1 percent payment per month, that helps the property buyers to move in to their homes after paying only around half the prices of the property – is a key to the success of our real estate projects.
“This payment plan – the first in the Middle East by a private developer – is an ideal solution for the UAE’s middle income households who were priced out by luxury developments. Danube Properties believes in inclusiveness and sees affordable homes as the future of the real estate market in the UAE.”
Lawnz, Danube Properties’ 11th project – the Dh550 million Lawnz at the International City – comprises of 1,032 units that raises its portfolio to 4,744 units with a development value exceeding Dh3.7 billion, spread across 11 successful projects.
Construction of the project is expected to start in 2018 with completion in 2020. Lawnz is Danube Properties’ first project at the International City and its first gated complex.
The Dh550 million Lawnz offers 1,032 residential units, ranging from studio, one and two-bedroom apartments. The project is conveniently located at the International City Phase 1. The Super lavish amenities include a massive 3.8 Acres Promenade which offers Canal, Sunken Plaza, a fully equipped health club, swimming pool, steam and sauna room, multi-purpose hall, jogging track, barbecue deck, badminton court, multi-purpose court and a high tech surveillance system for the protection and security of the residents. The property also comes with a 42 metres wide entrance and outdoor cinema.
Among the residential units, 50 percent of the units are studio apartments while 40 percent are one-bedroom apartments and 10 percent are two-bedroom apartments.
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.
Atif Rahman, Director and Partner of Danube Properties, says, “The customer response for the first phase of the project – about half of the total inventories – was amazing and overwhelming. However, the response to the second phase was even better – so much so that we sold 350 units in 4 hours – an industry record!
“One of the key aspects of our sales strategy was to give priority to the end-users and the first-time buyers, who used to view housing very unaffordable. However, our sale strategy put them at the forefront of our massive marketing campaign – by bringing down the price barrier below Dh300,000 for the first time in recent history.
“As a developer, we work for the satisfaction of the homeowners – our biggest stakeholders – and it is important to make them feel confident with our properties and our approach. It is exactly what we have done with Lawnz sales and I am glad that we now have a large customer pool who earlier could not think of buying a home in Dubai. Now they have bought their dream homes – from Danube Properties.”
Danube has delivered 831 properties so far including the handover of 302 units within Glitz Residences 1 and 2 and 358 in Glitz Residences 3 as well as 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 for Miraclz Tower near Miracle Gardens at Arjan that will host 599 units including 591 apartments.
Danube Properties also awarded a Dh146 million contract for the main construction package for the Resortz project. 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 11 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
|| Residential Units
|Glitz Residence I
|Glitz Residence II
|Glitz Residence III
|| 454 Units
||Delivery in 2018
||Delivery in 2018
|| 444 Units
|| Dh300 million
|| 1,032 Units
|Total 11 Projects
||4,744 Residential Units
|| Dh3.69 billion