Danube to open second Dubai scheme in Studio City
Founder says launch of 300-apartment scheme likely to be in November
Danube Group founder and chairman Rizwan Sajan has revealed that his company's newly-formed residential arm, Danube Properties, is to launch its second Dubai project in November.
The new scheme, Glitz by Danube, will contain 300 one-, two- and three-bed properties in Dubai Studio City close to a proposed new Village Centre.
"Studio City is a good location, very close to Emirates Road," he told CW when asked how he chose the new location.
"The infrastructure of Studio City is ready, the Tecom people are very nice people to deal with and we've decided to launch this in November or December. The build will take two and-a-half-to-three years when we launch it," he added.
Sajan said that he had only bought the plot in Studio City after selling the Dreamz project, which is currently in the tendering stage with a main contract likely to be awarded in November.
"And we will start the construction in November," he added.
Sajan said that he will continue to buy land only after ensuring his previous projects are sold out.
"I love to do that. I love to make a small profit, sell the thing and move on to the next one," he said.
He added that the Glitz apartments would be sold at an "exceptional price".
"I mean, 60-70% of the material that is going into the project is being supplied by Danube. I have a big edge over the competitor, because the price I offer other developers won't be able to match. I have a margin of 15-20% that I can pass onto the end user."