DMCC, Danube Properties to Launch $545M Residential Project in JLT District

Residential Project in JLT Dubai

Exciting New Residential Project Joins JLT Community Developments

Key Points:

  • The district welcomes 1,200 new residential units through a USD 545 million development.
  • Following the prosperous sale of Viewz residential units, DMCC and Danube extend their partnership in JLT’s Cluster K.
  • DMCC emphasizes ongoing district development as a vital strategy to boost foreign direct investment (FDI) in Dubai.

In Dubai, UAE, DMCC, the leading free zone and Government of Dubai Authority on commodities trade and enterprise, collaborates with Danube Properties to introduce a new residential project in the vibrant Jumeirah Lakes Towers (JLT) district.

The 65-storey twin towers will introduce 1,200 new residential units to JLT, spanning a built-up area of 1.7 million square feet. This represents a development value of around USD 545 million (AED 2 billion).

In the design phase presently, the new residential towers will be situated adjacent to DMCC’s Uptown Dubai district, enhancing JLT‘s reputation as one of the most sought-after mixed-use communities in the emirate.

Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer of DMCC, noted, “The demand for premium residential properties in the JLT community has reached unprecedented levels, as evidenced by the remarkable success of Viewz, our initial collaboration with Danube, which has reached full occupancy.

With a thriving community exceeding 100,000 individuals, JLT has emerged as one of Dubai’s most coveted districts, offering a comprehensive array of amenities for visitors, businesses, and residents alike. We take pride in partnering with Danube once again as we persist in shaping and propelling the evolution of JLT, enriching the residential experience for our growing community.”

Rizwan Sajan, Founder and Chairman of Danube Group, emphasized, “Being a swiftly growing private real estate developer in the UAE, we continuously pursue prime plots in strategic development zones. Collaborating with DMCC enables Danube Properties to elevate the allure of our forthcoming project, offering investors and homebuyers a chance to capitalize on future value appreciation, driven by JLT’s desirable location and the backing of DMCC.”

Building on the success of their previous collaboration, DMCC and Danube launched another project, Viewz, located in Cluster K with a development value of AED 1.4 billion. Both towers of this development are fully sold, highlighting the sustained demand for premium properties in JLT.

In 2023, DMCC partnered with five prominent property developers to introduce six dynamic commercial and residential real estate projects in its JLT and Uptown Dubai communities. This ongoing development remains a top priority for DMCC, drawing in record numbers of new companies to Dubai through its unmatched business ecosystems and residential offerings. Currently, DMCC contributes to 11% of the foreign direct investment (FDI) in Dubai.

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