Danube sees Dh5 billion revenues in 2018

Dubai - The company is scheduled to deliver 831 units worth Dh1 billion this year.

Dubai-based Danube Group's revenues are expected to touch Dh5 billion in 2018 as it launches more projects this year and the next year.
Speaking to Khaleej Times, its chairman Rizwan Sajan said the group would launch one project in Arjan in the fourth quarter and one project in every fourth month next year.
This year alone, it will deliver nearly Dh1.5 billion worth of projects.
"We have achieved Dh3 billion revenues target but hope to add another Dh500 million for the remainder of the year. We expected to exceed Dh1 billion or 1.25 billion next year, expecting to reach Dh5 billion. We are planning to launch a property in Arjan in September or October which will be affordable with luxury," he said.
Sajan was speaking to mark the timely completion of its Dh300 million Glitz 1 and 2 projects located in Dubai Studio City. The developer will deliver Glitz 3 before December.
"It's very important that every developer should deliver on time as it reflects the confidence of investors in Dubai's market."
Since making its foray in real estate market in 2014, Danube Properties has launched 3,217 units -3,165 residential and 52 retail units - split in to eight projects, of which 302 units are ready for handover while the rest are in various stages of construction.
Sajan said the group's Dh550 million Dreamz project is ready and it is only waiting for power connection. It will complete Glamz and Starz in 2018 and Dreamz Villas this year.
"Just as we started delivering projects every fourth month, similarly we will start delivering every fourth month. All the other projects are running on time. Whatever projects we do, we do on small basis but give the best to the people and on time," he noted.
In addition to good quality finish, he revealed that buyers want amenities and place where they have everything of their regular needs such as health club, jacuzi, steam room, sauna, playground area, grocery, saloon, laundry and infrastructure that is already developed.
Slowdown, what slowdown?
Sajan said they're looking at Dubai beyond Expo 2020 because this is the place to stay and he also advised those residents who are looking to stay in this country on a log-term basis to buy a property rather than paying monthly rentals.
"It's not just Dubai Expo 2020 that we are looking at, we are looking much beyond that. Dubai is the place to stay," he said, adding that there is no slowdown in the market as there has been an increase in transactions at Dubai Land Department in terms of values and volumes.
waheedabbas@khaleejtimes.com