New project of Danube Properties in Dubai sold out within few hours of launch

Dubai has witnessed high demand for affordable properties once again as Danube Properties' recent Dh350 million Gemz was completely sold out within hours of its launch.

Dubai has witnessed high demand for affordable properties once again as Danube Properties’ recent Dh350 million Gemz was completely sold out within hours of its launch.

The project was all bought by end-users and brokers.

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The founder and chairman of Danube Group, Rizwan Sajan, said, “This shows the buyers’ trust in Danube Properties – as we persist in delivering on our promise to a growing number of UAE citizens who are our greatest strength and inspiration.”

This is the third project of this developer that has been launched and sold out within the last eight months, reflecting positive market sentiment and the reality that more purchasers are entering the property market.

Immigrants who wish to stay in the Emirates for over a longer period of time are highly shifting towards purchasing their own property to save on rent.

The executives and analysts of the real esṭāte industry state that this trend is particularly seen among the salaried people who are of age 21 to 40s, investing to safeguard against inflation.

Danube Properties stated it had delivered 11 out of 17 projects announced till now.

Sajan further added, “In terms of the number of units, we have delivered 4,556 units out of 8,272 units that have been sold out. We have delivered around Dh3.63 billion worth of homes to our happy clients, out of the total development value of Dh5.65 billion.”

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Sajan said that Danube Properties would initiate processing for long-term residency and Golden Visas for investors who meet the respective criteria, like Dh2 million and Dh5 million, as well as the Dh10 million ceilings from September 2022, when the procedure starts.

With a constructed area of 530,000 sqft, Gemz will now be made on a plot of 101,000 sqft.

The 14-storeyed project will have 270 apartments, comprising 24 Studios, 74 1BHK, 114 2BHK, as well as 42 3BHK apartments, while 16 apartments are duplexes.

Tariq Saeed

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