Danube Properties AED550mn Lawnz project sells out
Dubai-based property developer, Danube Properties, announced that its latest project the AED550mn Lawnz has been sold out within five days of its launch.
Rizwan Sajan, founder and chairman of Danube Group, said: The sell-out of the Lawnz in the hot summer months a very quiet and low season for business is a live demonstration of the public faith in the Danube brand and the customers confidence in our ability to deliver quality homes at an affordable price and on time, which is very crucial for the end-users who invest their life savings with us.
This is also a strong testimony of the fact that there is no shortage of buyers if the properties are offered at the right location, right price, right payment plan and the right delivery schedule. Our industry trend-setting 1% payment per month, that helps the property buyers to move in to their homes after paying only around half the prices of the property is a key to the success of our real estate projects.
This payment plan the first in the Middle East by a private developer is an ideal solution for the UAEs middle income households who were priced out by luxury developments. Danube Properties believes in inclusiveness and sees affordable homes as the future of the real estate market in the UAE.
Lawnz, Danube Properties 11th project at the International City, comprises 1,032 units that raises its portfolio to 4,744 units with a development value exceeding AED3.7bn, spread across 11 successful projects. Construction of the project is expected to start in 2018 with completion in 2020. Lawnz is Danube Properties first project at the International City and its first gated complex.
The project is conveniently located at the International City Phase 1. The amenities include a massive 3.8 acres Promenade which offers canal, Sunken Plaza, a fully equipped health club, swimming pool, steam and sauna room, multi-purpose hall, jogging track, barbecue deck, badminton court, multi-purpose court, and a high-tech surveillance system for the protection and security of the residents. The property also comes with a 42m wide entrance and outdoor cinema.
Among the residential units, 50% of the units are studio apartments while 40% are one-bedroom apartments and 10% are two-bedroom apartments.
Atif Rahman, director and partner of Danube Properties, said: The customer response for the first phase of the project about half of the total inventories was amazing and overwhelming. However, the response to the second phase was even better so much so that we sold 350 units in 4 hours an industry record!
One of the key aspects of our sales strategy was to give priority to the end-users and the first-time buyers, who used to view housing very unaffordable. However, our sale strategy put them at the forefront of our massive marketing campaign by bringing down the price barrier below AED300,000 for the first time in recent history.
Danube has delivered 831 properties so far including the handover of 302 units within Glitz Residences 1 and 2 and 358 in Glitz Residences 3 as well as 171 townhouses at Dreamz project till March 2018. It will deliver a further 870 units later this year.