Anil Kapoor floored by the innovations within Ritz by Danube, a Dh 300 Million Project

• Timeless glamour and style icon acknowledges ‘Ritz by Danube’ project as a preferred choice for a home in Dubai
• Spanish technology will convert part of the living room into a bedroom at night- offering greater convenience to homeowners to accommodate guests and ensure more living space - converting part of the living room to a bedroom - with less investment
• The Dh 300 million Ritz offers fully-furnished 450 apartments including 180 studios, 135 one-bedroom and 135 two bedroom apartments
• Price of fully- furnished studio starts with AED 430,000/-
• Danube’s innovative ‘One per cent’ monthly payment without any interest will help the tenants to get converted into home- owners

Dubai, UAE, January 27, 2016:   Bollywood icon, Anil Kapoor has bought a flat in Ritz by Danube development confirmed Rizwan Sajan, Founder & Chairman of Danube Group at a press conference held at Novotel, Al Barsha today. Danube Group, Dubai-based diversified conglomerate with interests in real estate, building materials and interior products, had unveiled a new living concept that creates more life space - by turning one bedroom into two at night -  within a limited household and offers greater comfort and convenience to upwardly mobile families.

Ritz by Danube, a Dh 300 million new development being planned in Al Furjan neighbourhood in Jebel Ali area of Dubai that is in close proximity to Dubai South, the Dh 120 billion & 140-square kilometre mixed-use development, that will host Al Maktoum International Airport and the World Expo 2020.

Danube has partnered with a Spanish home technology solutions provider that will install modular furniture in the living room with the full- size bed tucked into the wall as part of the interior home décor with a sofa set. The bed, when released from the wall, gradually falls on the ground as a bed, ready to sleep in. Additionally, the collapsible doors provide quick and easy space division for privacy.

The unit comes as part of a fully-furnished home offering - the Ritz - by Danube Properties which is bundling out the solutions for as low as Dh430,000 for a studio flat with a one-per cent monthly payment plan that is convenient to the end-users. The 1% payment plan allows buyers to only pay 52% of the total value before the possession and the rest 48% will be paid in convenient EMIs. 

The house price continues to decline on weak demand; however projects like RITZ by Danube fulfill an important gap in the market. The new home solution- RITZ by Danube will appeal to new couples and small families who are on the move and want a cozy, ready-made home with fitted-in furniture. The amenities give home-owners enough space to entertain and host guests and friends over the weekend. 
With property prices coming down to a more realistic level that are becoming attractive to the end-users, there is a possibility of a large-scale migration to home ownership, from rental homes. 

Taking the discussion on affordable housing further, Anil Kapoor added, “Developers need to read the market requirements and respond to the consumers’ needs. When I heard about Ritz by Danube, I somehow knew that it is one project which is being developed for the masses, who aspire to own a house in Dubai. I congratulate Danube Team for seeing this innovation through and bringing a new wave of affordable housing to the fore. I urge everyone to have a look at the show apartment to witness the latest technology in real estate.”

With Dubai’s property prices remaining lower compared to global hub cities such as London, Mumbai, Singapore and Hong Kong, the new low-price environment offers a great opportunity for consumers to benefit from not only the asset but the price appreciation of the asset when delivered.

Dubai offers one of the highest rental yields of 8-10 per cent in the worst case scenario. In most cases, the value addition leads to a rental yield of around 10-12 per cent - which means an end-user spends 10-12 per cent of the home price in yearly rent. 

Rizwan Sajan, Founder & Chairman, Danube Group asserts, “We are so excited to have Mr. Anil Kapoor as one of customers, and to get his approval on the innovations within Ritz is a testimony to the fact that it actually is a mass product. The move reflects our focus on the end-users and their comfort. RITZ project is a fitting tribute to the ‘Year of Innovation’ where the UAE’s leadership is looking at stimulating innovation and technology to fuel the country’s economic growth as we move forward and I believe, such innovation will help stimulate the pent-up demand and convert tenants to home-owners in future.”

“We are here to contribute to the economy by creating good value for our stakeholders. Besides, a moderate approach to Dubai’s economic and demographic expansion shows that the emirate will need 18,000 new homes per year for the next five years to accommodate the 1.8 million new consumers, all of whom will need accommodation. We believe, our new offerings will stimulate families with a household incomes of Dh15,000-25,000 to buy homes as opposed to stay in rented apartments and insulate themselves from the rent-related inflation that might eat into their savings by the time Expo 2020 rush creeps in. If the rents are converted into monthly or yearly installments to pay for the homes, most Dubai’s residents will be able to own a home in Dubai”, added Mr. Rizwan Sajan.

The Ritz is Danube Properties third major project after Dreamz and the Glitz trio - and takes the total value of the group’s real estate portfolio to Dh1.5 billion. Ritz offers 450 apartments including 180 studios, 135 one-bedroom and 135 two-bedrooms with built-in modular kitchen, furniture and complete bathroom fittings by Milano - Danube’s Italian bath solutions.

In addition to these, Ritz homes come with health club, sauna, massage bathtubs, tennis court, car parking, basketball court, badminton court, paddle tennis court, swimming pool, health club, jogging track and party hall

The new home solution will appeal to new couples and small families who are on the move and wants a cozy, ready-made home with fitted in furniture and amenities as well as give them enough space to entertain and host guests and friends over the weekend..

Danube Properties’ new launch comes amid a softening of the luxury property market in Dubai, which will add 1 million people in the next five years to its population of 2.4 million. The move reflects a company culture to defy the odds and expand business when others wait and see.

The current supply of 12,000-13,000 per annum falls well below the anticipated demand. Besides, more than 80 per cent of Dubai’s population lives in rented homes - many of whom can afford to buy properties to live or rent out. With property prices coming down to a more realistic level that are becoming attractive to the end-users, we see the possibility of a large-scale migration to home ownership, from rental homes.

All Danube Properties’ projects have enjoyed phenomenal success since their launch; the affordable prices and flexible payment plan offered, combined with the development's convenient location and its wealth of ultra-modern facilities for 21st century living, has proved very appealing to buyers. Currently Danube Properties has an impressive book value of AED 1.2 billion worth of super successful projects with over 1.7 Million Sq Ft under construction.

Continued support and responses inquiries, conversion, thankful government and the

“We thank our investors and brokers for the overwhelming response to all our projects and we are confident of their continued support in future as well. We have had overflow of inquiries and conversion rate has been phenomenal. We are realizing our customers dreams here, and we want the best for them. The role of the government policies cannot be undermined in the success of our projects as more often than not- government’s futuristic- planning adds value. “ asserts Rizwan Sajan.