Danube chief vows 'two to three' projects annuallyby Neha Bhatia on Feb 25, 2016
The founder and chairman of a UAE-based construction firm has told Construction Week he will launch "two to three" property projects each year.
Rizwan Sajan, chairman of Danube Group, also said his focus for the foreseeable future will remain on Dubai's residential and affordable housing segments.
“So long as the market has demand, we will continue to launch two to three projects worth around $272.2m-$408.4m (AED1bn-AED1.5bn) each year," he said.
All three projects focus on the Emirate's upcoming affordable housing sector.
“I don’t want to be too aggressive, but tell me, how many private developers today are creating affordable developments?" he asked, stressing that while developers such as Dubai Properties and TECOM are developing non-luxury units, they are mostly state-owned firms.
“Companies like ETA and Al Fara’a were involved in the segment earlier, but as of now, we have no real competitors.
"We want to [ensure] Danube is synonymous with affordable housing with good quality and timely construction,” he added.
- Union Properties profits drop 51% in 2016
- Rezidor signs contract for two new hotels in Dubai
- In Pictures: Top rail projects in the UAE
- Sobha offers discount on DLD fees for Emiratis
- ADFD loans Sudan $90m to build hydroelectric plant
- SSH awarded Marassi Boulevard project in Bahrain
- UAE: Nakheel reports annual net profits of $1.35bn
- CMCS launches project management office training
- Omniyat appoints Sun Engg for its Dubai project
- Expo 2020 detailed designs nearly complete