Podcast: Rizwan Sajan on Danube Group's Dubai and GCC expansion
At least one new property project and more Danube Home stores are in the pipeline for 2019, Sajan tells Construction Week
Danube Group's real estate arm, Danube Properties, will focus development activity in Dubai this year, with the launch of at least one new project in the coming months, founder and chairman, Rizwan Sajan, said.
The real estate project will be unveiled in either March or April 2019, and will be similar in size and scale to the $149m (AED550m) Lawnz residential development launched in June 2018.
The unnamed community project will feature amenities such as a swimming pool, a gym, a running track, a cinema room, and shops.
In conversation with Construction Week's deputy editor Oscar Rousseau, Sajan told the Construction Week Viewpoint podcast that Danube was “very close” to acquiring the right land plot for its next project.
When asked if this would be Danube's only new real estate project in 2019, Sajan said: “Our formula is very simple – once we launch a project, it should be sold at least by at least 75-80% [before] we put it to under construction, and only then do we move on to a new project. Am going to launch any other new projects? Yes, I will launch a new a new project, but only if I sell this one by 75-80%.”
Speaking on his plans to take the group forward in 2019, Sajan said the firm would create new jobs in 2019 as it opens more Danube Home stores in the GCC.
Construction Week Viewpoint is a weekly podcast show that regularly features business experts and commentators to discuss construction, real estate development, and related sectors in the Middle East.