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Launched last month, Danube's Dh300-million project, Glitz, in Dubai Studio City has already sold out all its units.
Danube's first project, Dreamz, was intended for the higher middle-income sector, while Glitz has been designed keeping in mind the middle-income group.
Rizwan Sajan, Founder and Chairperson of Danube Group, says, ''We feel that families drawing Dh25,000 and above can easily afford a property like this. Our market study shows that there are many people who have been working and earning in the UAE for more than 15 years or so. While they may not have much to show in terms of savings, they would have a yearning to have a home that they can afford.
''From this understanding we planned and designed Glitz. Once the down payment and second cheque are cleared, it just becomes a matter of 1 per cent payment over a comfortable stretch of seven years. Plus one does not have to wait to complete the payment to move into their home.''
The cluster of buildings aims to offer an urban lifestyle 292 residential apartments and ten retail units in the project.
A 30-month build plan is on track with the project expected to be completed by the third quarter of 2017. ''We will stand by [the date of delivery] because people's trust has made us the household name that we are,'' says Sajan. ''Danube Properties was launched to make luxury homes available at affordable prices and Glitz takes that concept a step further.
''Being a building material supplier we can create a property that has all the ingredients of an upscale investment but with a lower price tag since there is no middleman to increase costs and margins.
''I am happy to give my products at a satisfactory price to people who value Danube's promise of quality and affordability,'' says Sajan.
The apartments have been designed to the highest standards of aesthetics and range from 470-1,645 sq ft.
Each apartment comes with a fully fitted and equipped kitchen and high standard Milano fittings.
The buildings have amenities such as a rooftop golf course, swimming pool, leisure deck with barbecue station, air-conditioned children's play area-cum-party hall, state-of-the-art health club and more.
Atif Rahman, Head of Property Development at Danube Properties, says, ''I think the most important aspect of any retail property project is its location. Easy access to all areas of Dubai and close proximity to Jebel Ali and Abu Dhabi make this a golden place to invest in.
Read more on homes wanted on a budget in Dubai
Source: Ruqya Khan, Special to Property Weekly