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Power 60 Power 60 2017

#8 Danube Group

Danube has become a household name in the past couple of years after the company, previously better known in the construction industry as a major supplier of building materials, turned its hand to property development. If you live in Dubai you can’t have failed to notice advertisements for Danube’s ‘affordable luxury’ apartments plastered everywhere from billboards to the side of taxi cabs.

Rizwan Sajan-owned Danube’s short journey as a developer has taken it from villas in the burgeoning neighbourhood of Al Furjan via low rise apartment buildings in Studio City to its first high rise tower in Arjaan next to Miracle Garden. Since its inception in 2014 the firm has launched nine projects, each of which has promptly sold out, proving the strong demand for affordable housing in Dubai. The latest offering is the AED 450mn Bayz, a 29-story tower which Danube says will offer the lowest prices in the Business Bay.

All Danube’s projects are currently under construction, with the handover of the first project – Dreamz scheduled to commence soon. At present, Danube Properties has a book value of AED 3bn and Sajan says he plans to launch a new project every two to three months, providing the previous one has sold out. Danube continues to grow its building materials business opening a number of new branches throughout the region. Other highlights of the past 12 months include the launch of a new AED 100mn ($27.2mn) factory to meet growing demand for fire rated building cladding panels in the region.

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