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After establishing itself as one of the largest building materials companies in the region, Danube has taken a much-awaited step into the real estate sector by launching a new property development arm, Danube Properties, with a Dh500-million initial project.
Dreamz by Danube is Danube Properties' maiden project, located at Al Furjan, near Ibn Battuta Mall. An impressive spread of 175 town houses in a landscaped neighbourhood, the project is expected to be completed by 2016, offering luxury residences at prices starting at Dh2.5 million.
''We want to offer luxury living at affordable prices in a well-regulated market that is gradually maturing and where quality, commitment and timely delivery are increasingly making a difference,'' says Rizwan Sajan, Danube Group Chairman.
''We will focus on the midmarket real estate segment. Having been an expat for an extended time, I have a fair understanding of what a home means to someone who has been away from home for years.''
The three- and four-bedroom town houses will have built-up areas ranging from 2,500-3,000 sq ft.
''We will initially focus on residential real estate before entering the commercial sector,'' says Sajan. ''Home to me personally is a refuge from the busy world outside. It is a place where you can be yourself and feel comfortable and safe. While you can value your material possessions, home to me is mainly about being around the people you love and care about. These brand values can be seen in the [Dreamz] properties and upcoming projects as well.''
Each town house will come with a garden and water features. The villas also come with contemporary design and finishing from Danube.
''The launch of Danube Properties comes following a careful study of the needs of the UAE's property market, where the combination of quality, affordability, developer's commitment and timely delivery is a rarity,'' says Sajan. ''Being in the building materials business, we will be able to offer the best prices and that value will be offered to the customer.
''The move is also a reflection of our firm commitment to the UAE market, where we are reinvesting our hard-earned resources to help the real estate market expand further.''
Since its inception in 1993, Danube has played an instrumental role in sourcing building materials from around the world, supplying a wide variety of projects from mid-range apartments to the Burj Khalifa.
''We already know the different tastes of customers in the market, which will help us to leverage our experience for the benefit of our customers.''
The launch of Danube Properties comes five years after the Group rolled out its home furnishing retail chain, Danube Home, the rebranded version of Danube Buildmart.
''Real estate and land transaction jumped 53 per cent last year to Dh236 billion, according to the Dubai Land Department. Our decision is therefore backed by sound macroeconomic fundamentals,'' says Sajan.
More than 1,500 prospective buyers were registered during the first day of sales of the Dreamz by Danube project on June 24. In less than three hours, all l71 villas were sold.
''This is the first full project sellout on a single-day sales campaign by a private developer in nearly six years,'' claims Rizwan Sajan, Chairman of Danube Group and Danube Properties.
The three-bedroom units are priced between Dh2.5 million and Dh3 million and the four-bedroom town houses are priced between Dh3 million and Dh3.5 million.
Source: Ruqya Khan, Special to Property Weekly