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Danube unveils new ‘resort-style’ project in Arjan

Danube Properties has unveiled its latest residential project – a AED 300mn ($81.7mn) resort-style property in the Arjan neighbourhood of Dubai appropriately titled ‘Resortz’.

Chairman and founder Rizwan Sajan launched the 444 unit project at a presentation this morning under the slogan ‘Live your life resort style’.

Danube’s eighth project to date is a G+4 building divided into three blocks with 305 studios, 54 one beds, 56 two bed and just four 3 bedroom apartments with space for 25 retail units.

Studios will cost between AED 450mn and 500mn each, one bedrooms will be AED 800mn and two bed flats will cost between AED 1mn and AED 1.1mn.

The building will cover just 35 percent of the total plot while the rest will be covered with landscaped gardens and recreational area, hence the name Resortz.

Scheduled to complete in June 2019, Sajan said the low rise project would take less time to build than some of its previous projects and so buyers would only pay 44 percent of the value of the property on handover. Under the company’s payment plan, customers can pay one percent per month or as little of AED 4,500.

While sales are mostly targeted at homeowners in the UAE, Sajan said sales out of its India office were on the rise while it has also opened a new office in Saudi Arabia.

He added that he expected to unveil Danube’s next project in as little as two months’ time compared to the four months it took between launching Miraclz and Resortz.

Danube has sold 1,500 units across its seven previous projects with a book value of AED 2.2bn and has handed out AED 521mn worth of construction contracts in recent years.

It has received all approvals for its first project – Dreamz – and expects to start handover to home owners any day now. The Glitz 1 & 2 projects should be handed over in Q2 of this year with Glitz 3 to follow in Q3.

Construction is well underway on the Starz and Glamz projects while Miraclz, a high rise building launched late last year, has started excavation.

Sajan said Danube launched AED 1bn worth of projects last year and that he hoped to increase that by up to 50 percent in 2017.

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