Danube chief talks about 'sound growth' in 2016
The month of May will see the establishment of Danube Properties’ sales office in Saudi Arabia
Founder and chairman of Danube Group, Rizwan Sajan, highlighted the importance of GCC Markets for the firm's operations and expansion plans in a statement released by the company.
He pointed out that Danube has been operating in the Saudi market for five years now. Over the years Danube has invested $81.6m (AED300m) in the market by establishing five building materials stores, and one retail store.
The month of May will see the establishment of Danube Properties’ sales office in Saudi Arabia, to meet the huge demand from Saudi investors to buy properties in Dubai. According to Sajan, this is their second sales office after establishing their first sales office abroad in India last month.
According to Sajan, buyers of all Danube projects in Al Furjan and Discovery Gardens, can make 10% return on their investment once they decide to rent out their property thanks to the payment of 1% without any interest plan.
“All our projects- Dreamz, Glitz Residence 1, Glitz Residence 2, Glitz Residence 3, Starz Tower By Danube and the latest offering Glamz come with very unique and innovative concepts. And a stand out payment plan for long- term investors and end- users, wherein the buyer just pays 10% down payment followed by 15% in 60 days, the balance amount is to be paid in 75 equal monthly installments of only 1% each without interest. The most attractive part of the payment plan is that it requires the buyers to pay only 52% until handover and balance in four years after handover, is best suited for investors from far and wide, including investors in the region."
He added: “Beside our presence in UAE market, we have a strong presence in Oman through our retail stores and we intend to launch two new retail stores this year, and two more retail stores early next year, taking the total number of stores in Oman to five retail stores with investments worth $32.6m (AED120m) in the cities of Mabela, Nizwa, Sohar and Salalah.”
Sajan plans to invest $13.6m (AED50m) to open their first retail store in Qatar early next year, and in Bahrain, Danube have established a building materials store as well as a retail store with a total investment of about $54.4m (AED200m).
With regards to the real estate sector in Dubai, Sajan revealed that Danube's portfolio has reached $490m (AED1.8bn), along with their recent launch of sixth real estate project while confirming that all other five are 100% sold out.