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Danube Group marked its entry into the UAE real estate sector with the launch of Dreamz, a Dh500-million project consisting of175 town houses in Al Furjan. The Dh2-billion conglomerate, which has been mainly a supplier of building materials, has established Danube Properties, a wholly-owned subsidiary that will manage its real estate development activities.
Danube Properties will operate in the mid-market segment and will initially focus on residential real estate before entering the commercial market.
''Being in the building materials business, we will be able to offer the best prices and that value will be offered to the customer,'' said Rizwan Sajan, Founder and Chairman of Danube Group. ''The move is also a reflection of our firm commitment to the UAE market, where we are re-investing our hard-earned resources to help the real estate market expand further.''
Dreamz will feature three- and four-bedroom town houses with built-up areas ranging from 2,500-3,000 sq ft. Each town house will have its own garden and water features. Prices of the residences start at Dh2.5 million.
Construction will start soon and delivery is scheduled for 2016.
Source: Property Weekly