Danube Properties on Saturday announced the completion of 454 units in Starz and pre-completion of 426 residences in Glamz - its fifth and sixth residential projects.
Both the projects were launched and sold out in 2016 and completed in record time in 2019. Once the planned handover of 880 units in Starz and Glamz are completed, Danube Properties will have delivered 1,711 residential units, worth Dh1.69 billion, part of its portfolio of 5,019 residences, worth Dh3.82 billion, in less than five years after it launched its maiden project - Dreamz in June 2014.
The 880 homes come with several lifestyle amenities, including a fully-fitted gymnasium, health club, swimming pool, large reception area, community areas with landscaped greenery, ample car parking and other facilities - all offered at a very affordable price and with a one per cent monthly payment plan. Once handed over, residents will also enjoy easy access to Dubai's public transport with a metro station within two-minutes walking distance from the Glamz and three minutes from Starz. Residents will be able to reach the Expo 2020 site in just 7-10 minutes through the metro station and catch a flight at Al Maktoum International Airport - which could be reached in 15 minutes from the nearest metro station.
"As we move closer to the Expo 2020, we see renewed confidence in the UAE real estate market. The complete sell-out of our projects reflect a strong investor confidence in not only the Dubai real estate market, but also in Danube Properties," said Rizwan Sajan, founder and chairman of Danube Group. "Today, we are not only delivering homes, but delivering promises we made to home buyers who have put their faith in us. We are a firm believer in the long-term sustainable development of real estate projects and there is no better market than the UAE, especially Dubai."
Danube Properties' new home deliveries come at the backdrop of its stellar performance in 2018, clocking in a 78.5 per cent jump in sales of the number of residential units that has boosted Danube Properties' market share of off-plan sales to 10.6 per cent in 2018, compared to the five per cent in 2017. The company last year sold a total of 1,869 residential units, according to its annual report.
Atif Rahman, director and partner of Danube Properties, said: "Our record of continuous development and timely delivery of properties speaks volumes about our strong commitment to quality, timely delivery and our solid commitment to our home buyers. Today marks a great milestone in the history of Danube Properties as we will be delivering six out of the 12 projects launched by us, in less than five years. Our launch-to-delivery ratio is one of the highest in this region."
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.
New Danube apartment project launching in October 2016 in Arjaan
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