Danube Properties market share jumps from 5% in 2017 to 10.6% in 2018

A whopping 78.5 percent jump in sale of the number of residential units has boosted Danube Properties’ market share of off-plan sales to 10.6 percent in 2018, compared to the 5 percent in 2017.

The company last year sold a total of 1,869 residential units, according to its annual report. Among the total number of properties sold by Danube Properties, 89 were ready-to-move-in while the rest 1,780 units were off-plan properties.

The sales value of 1,869 units increased by 19.26 percent to Dh978 million last year, compared to the sales value of 1,047 units worth Dh820 million in 2017, the report shows.

“Despite strong headwinds affecting the growth of the global economy, the UAE economy remains an oasis for growth. The end of conflicts elsewhere in the Middle East bodies well for growth in the regional economy,” Rizwan Sajan, Founder and Chairman of Danube Group, says.

“We see strong growth opportunities, and we remain fully committed to the local economy and the real estate sector with more project launches as we move forward.”

Danube Properties has so far awarded Dh1.6 billion worth of construction contracts involving 10 of the 12 projects launched so far. In 2018, Danube completed construction of 358 residential units while it awarded construction contracts for 926 units.

The developer had 1,339 units under tendering stage and a further 17 percent in design stage – reflecting a robust property development and construction pipeline that will help the UAE’s construction sector to navigate through the current phase and way beyond the Expo 2020 global mega event.

Atif Rahman, Director and Partner of Danube Properties, said, “Danube Properties’ stellar performance reflects our firm belief in the affordable housing market. Despite challenging market conditions, we have recorded 78.5 percent growth in volumes and 19.27 percent growth in the sales transaction value.

“The market is the best regulated real estate market not just in the region but globally and it is an amazing time to do business.”

Atif Rahman said, 2018 has been the best year for Danube Properties so far. “Our consumer sensitive business approach is paying off. The year 2018 is a Year of Towering Performance in the history of Danube Properties.

“These results show that if you have the right properties at the right location and are offered at the right price with the most competitive payment plan, customers will buy them. We have proven this time and again in all the 12 projects launched by Danube Properties so far.

“Danube Properties’ delivery-to-launch ratio is one of the best in the real estate development industry in the GCC and they continue to maintain that. With a solid construction and delivery record, Danube Properties has helped strengthen customer and investor confidence and their faith in the real estate sector of the UAE and Dubai,”

In 2018, Danube Properties increased its headcount to 220 professionals, up from 151 in 2017.

“One of the key reasons for our towering success is our workforce and we are investing heavily in our people,” he concluded.