Danube Properties to hand over 851 units this year
Danube has recorded a 100% growth year-on-year in 2016 and has plans to launch its eighth project in April
Danube Properties, a Dubai-based developer, has announced that plans to hand over 851 units across four properties in 2017.
The developer is also set to launch its eighth property in the emirate in a couple of months.
More details weren’t shared, however, the project will be a “resort type of living” residential development, it was announced at a press conference, Danube held recently.
The developer also announced that 95% of its project, Miraclz near Miracle Garden, Dubai which comprises of 591 units, has been sold.
Atif Rahman, general manager of Danube Properties, said that company has recorded a 100% year-on-year growth and launched projects worth $270m (AED1bn) in in 2016.
He also mentioned that the developer sold inventory worth more than $258mn (AED950mn) last year. “We’ve launched two new offices in Riyadh and Mumbai, for which we have received a great response,” Rahman said.
Rizwan Sajan, CEO and chairman of the group said that 50 units of Miraclz were sold in Mumbai.
Lack of midmarket housing in the country has led the success of its projects, Sajan said. “Today the ‘Stop Renting and Start Owning’ trend has grown immensely and we are proud to be the pioneers in affordable housing. We are extremely happy with the response received and looking to introduce new concepts in the affordable housing sector.”
The developers also announced that construction work on Dreamz, its 171 unit townhouse project in Al Furjan, has almost completed, and handover will commence in the next few weeks.
Giving an update on all its projects, Rahman noted that final stages of internal and external finishing works on Glitz 1 and 2, are being carried out, and the project should be completed on time.
He said that construction work on Glitz 3 is progressing as well, and the final slab of concrete is set to be poured soon.
Earthworks on Starz, its residential building in Al Furjan have been completed. “We’ve decided to strengthen the quality of soil, because of some inconsistencies that were found in the soil.”
Rahman also stated that on Glamz, also in Al Furjan, “the installation works have been completed and the main contractor will be mobilised soon, as the excavation works will be completed and construction work should begin immediately.”
“On, Miraclz by Danube, which we launched last year, we’re waiting for the shoring certificate from the Dubai Municipality and as soon as we get that we’ll start the construction work there,” he said.
The developer will also open four new offices in Abu Dhabi, Doha, Delhi, and Cochin this year.