May 14 2016
As of May 13th, 2015 - only 10 units out of 209 are available for sale in Glamz Tower 1. That is by all measures a pretty excellent sales result with over 95% of Tower 1 selling out within 8 days of launch. This is also a strong indication of Danube's strengthening brand as their marketing campaign for Glamz has not been as extensive as previous launches for Dreamz, Glitz and Ritz (now called Starz).
For Tower 2, the developer has so far released floors 2, 7, 8 and 9.
With the current pace of sales, we expect the project to be nearly sold out by the end of May 2016.
Show apartments are available to view for the studio and 1 bedroom.
To reiterate, prices for the units are as follows:
Studios are for AED 470 - 520,000
1 Bedrooms are for AED 815 - 850,000
2 Bedrooms are for AED 1.14 - 1.18 million
The Payment Plan is 10% down, 15% after 60 days and then 1% a month for 75 months. Completion is scheduled for September 2018.
May 01 2016
Glamz Residence by Danube Properties is set to launch in early May 2016. This project is located in Al Furjan, right next to Danube's Ritz development which was sold out between December 2015 and January 2016.
Glamz will offer fully furnished studio, 1 and 2 bedroom apartments. The payment plan being offered is 10% down, 15% after 60 days and then 1% a month for 75 months. Completion of this project will be in 30 months which essentially means that investors will be paying about 53% between now and completion. Remaining 47% will be payable over 47 monthly installments following possession. This means that the significant portion of the purchase price will be paid off through future rentals.
Glamz will be delivered in Q3 or Q4 of 2018.
Apartments are fitted with modular furniture and a European technology convertible sofa that transforms into a full size bed with just a gentle pull.
Al Furjan is a real estate hotspot and we consider Glamz Residence to be the best buying opportunity in the community at this point in time.
Glamz is located just 2 minutes away from the new proposed Metro-line which will connect Dubai to the Expo 2020 site and is also a short drive away from Al Makhtoum International Airport and Dubai Parks. Glamz is close to Ibn Battuta Mall and some very reputable schools in the area.
For investors Glamz is one of the best investment opportunities in Dubai at this point in time. For each of the property types (studio, 1 and 2 bedroom), an investor can expect rental income to cover between 90 - 95% of installment payments following handover.
As an example, studio apartments are expected to have an average price of AED 470,000. By the time handover takes place, AED 220,000 would be payable over 47 monthly payments - which works out to be about AED 56,000 per annum. Current values for studios in Al Furjan and Discovery Gardens is about AED 45 - 55,000. So once you take into account maintenance fees but also the fact that these units will be furnished - the investor can easily expect over 95% of the installments to be paid by rental income alone.