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Dh300 million ‘Glitz by Danube’ launched

Dubai: Danube Properties on Tuesday officially launched its Dh300 million affordable luxury apartment project ‘Glitz by Danube.’

From left, Rizwan Sajan, Anis Sajan, Sunil Gavaskar and Adel Sajan at the launch of glitz by Danube on Tuesday at the firm’s headquarters. — KT photo by Mohammad Mustafa Khan

This is the second real estate project announced by the newly-launched property arm of Danube Group within six months. Danube Properties’ maiden project ‘Dreamz by Danube’ worth Dh500 million was sold out on the first day of the public sale in June this year.

“The response I am getting [for Glitz project] is huge and I am expecting to be better than ‘Dreamz by Danube,” Danube Group chairman Rizwan Sajan told Khaleej Times in response to a question regarding his expectation with the new project.

Brokers and agents have started pre-booking of the new project and Danube will open commercial and public sale on January 9, 2015, according to Sajan. Citing the current slowdown in real estate market in Dubai, Sajan said: “I have full faith and confidence in Dubai and hope the real estate market will come back soon.”

“I know market sentiments are down because of falling oil prices, but considering the demand which is there for the mid-income housing in the emirate this project will be another successful story,” he added. “Because of the market condition, we are launching the first tower of the project at very low price. If the response is very good price might go up.”

Danube Property launched the project at Dh900 per square feet compared to Dh1,100 per square feet in neighbouring Sports City. Hosted at the Danube Office Premises, the details of the upcoming venture were announced by Danube Properties brand ambassador and legendary Indian cricketer, Sunil Gavaskar. The latest project will be constructed at the prime location of Dubai Studio City. The cluster of apartment buildings will redefine urban lifestyles with 300 luxury apartment units available in a mix of studio, one, two and three bedroom apartments close to the proposed Village Centre.

Glitz by Danube will cater to the increase in demand for luxury residential property from local and regional buyers looking for contemporary designed apartments in a centrally located community with a wide range of leisure and community facilities. The spacious homes, designed to the highest standards of aesthetics, range in housing area from 470 to 1,645 square feet in each apartment block of eight levels. The apartments are a unique combination of contemporary design, luxury and comfort within a setting of lush landscape.

The building will include a swimming pool, roof top golf course, kid’s play area cum party hall, leisure deck with a barbeque station, state-of-the-art health club and much more.

Sajan said: “While we strengthen our presence in the real estate market, we remain responsible and careful in our approach and apply the same guiding principle that helped us grow even in difficult situations. Our recent market performance and new launch are a testament to the success of this approach, and we will continue to support Dubai’s growing real estate industry by launching new projects that provide strong investment opportunities in this sector.”

Also commenting on the occasion Sunil Gavaskar added: “I am pleased to be the one announcing another milestone event in this company’s fine history. With a well-established and well known portfolio, further growing their footprint in the real estate market is of key strategic importance to the group. Their designs and values are unrivalled and it is a great privilege for me to be associated with them.” The necessary site mobilisation permits is expected to be secured soon and will expect site mobilization along with the ground breaking to happen in the month of January, 2015 marking the start of the construction works. The construction programme will range from eighteen to twenty months for completion which fits within the committed deadline.

— abdulbasit@khaleejtimes.com