Danube Properties launches $108.9m Olivz residential project
The 18,016m2 residential development will be located at the Al Warsan First area, close to the International City
The 18,016m2 project will comprise 741 residential units and 2,229.6m2 retail facility and is touted as the first real estate project to be launched in the UAE in 2020.
The infrastructure is complete, with Meraas as the main developers of the project, Danube Properties has confirmed, stating a delivery scheduled for April 2022.
Construction work on Olivz by Danube will begin in September 2020.
With the launch of Olivz, the developer's porfolio has grown to 6,194 units, with a combined value exceeding $1.2bn (AED4.5bn).
In terms of connectivity, the project, which will be developed in Al Warsan First area close to the International City and Dragon Mart, will offer easy access to Sheikh Mohammed Bin Zayed Road.
Speaking at the launch event, director and partner, Danube Properties, Atif Rahman, said that the development is attractively and conveniently positioned, near the proposed Dubai Metro green line extension.
The development will offer amenities such as a swimming pool, jacuzzi, sunken seating, water canal, play courts, kids' play area, barbeque area, gym and health club, jogging track, and a party hall with an outdoor deck.
Olivz' payment mechanism follows Danube Properties' 1% payment plan trend, which is focused towards catering mid-income buyers.
Studio apartments are priced at AED2,90,000/year, while 1-bedroom and 2-bedroom apartments are priced at 4,75,000 and 6,99,000/year.
"The launch of Olivz comes after we sold out the last two projects launched in 2019 — Elz and Wavez — as well as the delivery of Starz and Resortz," Rahman said.
'Olivz' is symbolic of long-term wellness and positive energy.