268 Studios, 65 Two-Bedroom Apartments, 203 One-Bedroom Apartments, 13 Three-Bedroom Apartments, And 4 Duplexes Will Deliver.
Private developer Danube Properties, based in Dubai, reported that its most recent Dh550 million project, Elitz by Danube, had sold out at the launch. Indicating that demand for the more affordable segment is still strong in the emirate.
Project will build on a 36,930-square-foot plot of land at Jumeirah Village Circle and have a 695,000-square-foot built-up area. 268 studios, 203 one-bedroom apartments, 65 two-bedroom apartments, 13 three-bedroom apartments, and 4 duplexes will deliver. A podium complex that includes 284 retail units, community amenities, and parking connects the twin-tower project.
Investors, purchasers, and brokers flocked to the project, whose completion was scheduled for the fourth quarter of 2025.
According to Rizwan Sajan, founder and chairman of Danube Group, the real estate market in Dubai has matured. In addition, shown resiliency by growing despite the worst pandemic in human history. Moreover, recording Dh300 billion in sales and mortgage transactions last year. This record will undoubtedly be broken this year to set a new one.
Danube Properties will set a record when we introduce six sold-out projects in a row in 2022. According to Sajan, this reflects the market’s health and the strong investor interest in high-quality homes.
As 2022 ends, we look ahead to the coming year with renewed hope for completing some additional landmark projects. As well as completing ongoing projects to advance the real estate market.
It also introduced home-office options for two-bedroom apartments, enabling families to manage work from home. Which has become popular since the Covid-19 pandemic, by turning a portion of the open space into a co-working space. Nowadays, most businesses allow employees to work from home, which improves productivity while saving time and reducing traffic. Additionally, it provides a better work-life balance.
Developer presented 4,556 units or more than half of the 8,779 units in the portfolio, for total sales Dh3.63 billion. Which exceeds the portfolio’s total value of Dh6.75 billion.