Danube Properties AED300mn Dubai project receives good response
Dubai-based developer, Danube Properties, has sold out 85% of the inventory, or 393 units of the 463 apartments in two months of the launch of the AED300mn Jewelz.
Rizwan Sajan, founder and chairman of Danube Group, said: “Jewelz has appealed to the masses in a big way – offering more than 15% return per annum that no financial products in today’s market can match. As a property developer, we have developed the product and the payment plan in such a way that the project appeals to the middle income families with limited income. Jewelz has captured the imagination of the property buyers in a big way. Selling of a project in just two months is a huge achievement in today’s market.”
Jewelz offers 463 residential units, ranging from studio, one- and two-bedroom apartments. The project is located on a plot adjacent to the park with a private entrance leading to the property. The amenities include a fully equipped health club, swimming pool, steam and sauna room, multi-purpose hall, jogging track, barbecue deck, badminton court, paddle tennis court, and a high tech surveillance system for the protection and security of the residents.
The project dedicates 50% of the space to open areas with an emphasis on greenery and landscapes. Construction of the project, which is currently in tendering stage, will start in summer this year and slated to be delivered before the Expo 2020 begins.
The launch of Jewelz takes its total development portfolio to 3,680 residential units, worth AED3.14bn.
Atif Rahman, director and partner of Danube Properties, said: “The attractive 15+% return on investment (RoI) has attracted a lot of property buyers and investors to invest in Jewelz as it offers one of the highest returns on investment in Dubai’s real estate. In addition to its location and the five-star facilities, Danube’s industry-leading 1% per month payment scheme has helped attract a large number of new home buyers – who were earlier priced out of the market due to the abundance of luxury properties flooding the market.”
Danube has delivered 827 properties so far including the handover of Glitz Residences 1 and 2 with 302 and Glitz Residences 3 involving 354 residential units and 171 townhouses at Dreamz project till March 2018. It will deliver a further 870 units later this year.