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Dubai’s Danube Properties reports $233m 2017 sales revenue

Danube's sales revenue in 2017 hit $233m, while the total amount of construction contracts it awarded during the year reached $106.7m

Danube delivered 302 Glitz 1 and 2 units in 2017.
Danube delivered 302 Glitz 1 and 2 units in 2017.

Dubai-based developer, Danube Properties, has released details of its financial performance in 2017.

In a statement, Danube reported that its 2017 sales revenue hit $233m (AED820m), while the total amount of construction contracts it awarded during the year reached $106.7m (AED392m).

These contracts include the $60.2m (AED221m) deal the company awarded to Naresco Contracting LLC for Miraclz Tower, a project that consists of 599 unit. The contract will see the project delivered by the end of 2019, according to Danube.

Danube also recently awarded a $3m (AED11m) piling and shoring contract for its Bayz project in Business Bay.

IN PICTURES: Glitz by Danube Properties

 

Atif Rahman, director and partner of Danube Properties, commented: “The year 2017 has been very significant for Danube Properties, as we started delivering our […] homes to our clients.

“In 2017, we launched two new projects, Resortz and Bayz. [Together, they comprise] 875 apartments, [and have] a combined development value exceeding $204.2m (AED750m).”

He added: “We delivered 302 residential units in Glitz Residences I and II at Dubai Studio City in 2017, while 529 more units are being readied [to be handed over] in the next few weeks.

“As it stands, we do not have any unsold projects now. All our announced projects are sold out and [are] either in the process of delivery or construction.”

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