Danube Properties: The Property Development Arm of the Business is Rated Among the Top 5 Developers in the UAE

Excerpts of an interview with Rizwan Sajan, Founder & Chairman of the Danube Group.

While 2022 was a year of volatility for real estate in a world still emerging from the scars of Covid-19, investor confidence in Dubai real estate remained rock solid!

This is also reflected in the incressased number of real estate and land transactions across the emirate – which is way higher than last year’s figures. The total value of 67,000 land and property sale and mortgage transactions recorded a 75.43% growth reaching AED 180 billion in the first 9 months of 2022, compared to AED 102.6 billion in the corresponding period last year. At this rate, the overall land and property transactions are going to create another record year for the real estate sector in Dubai.

Considered the best-performing quarter in the history of Dubai’s real estate sector, the value of real estate sales reached AED70 billion, confirming quarterly growth of 18% and 64.5% growth compared to Q3 2021. In the third quarter of 2022, 22 residential projects were completed consisting of more than 5,380 units.

Now, let’s look at the numbers at Danube Properties. This Dubai-based multi-million-dollar Group has been consistently increasing its global footprint and annual revenue. In eight years (2013-2021), it launched 14 projects. In 2022 alone, the Group launched six new projects – making it a record year. Interestingly, all the projects were sold out at launch. This happened when property prices are going up even in off-plan properties. This once again, demonstrates that there are more property buyers in the emirate this year than before.

In December, Danube Properties launched its second twin-tower residential project, Elitz, at Cityscape Dubai Located in Jumeirah Village Circle (JVC) opposite the Circle Mall, Elitz comprises 550 units, including studios, one-bed, two-bed, and three-bedroom apartments.

“The best part about the apartments is that there is a swimming pool in most of the apartments. We also introduced the ‘Presidential Studio which comes with a swimming pool, and there are around 25 units of these. They also have indoor pools, outdoor infinity pools, basketball and kids’ areas and many other amenities,” said Rizwan Sajan, Founder & Chairman of the Danube Group. Studios start from AED 550,000, with one bedroom from AED 1 million and two bedrooms from AED 1.4 million.

“We have Indian actors Karan Kundrra and Tejasswi Prakash invested in this project. There are many more Bollywood celebrities who have shown interest in buying a home in Elitz. It’s because people want to settle in Dubai, thanks to its safety, lifestyle, ease of doing business, Golden Visa and much more, he added.

Like his previous projects, the Danube Chairman said that he expected Elitz too to be sold out on the first day itself. “Property buyers showing interest before the property goes on sale will get their apartment fully furnished,” he said. With the addition of Elitz, Danube launched six projects in 2082, the highest number since its inception, and plans to launch another six next year. The developer has delivered 12 projects so far and two more will be delivered next year. The developer expects to close the year with ABD 2 billion in sales and expects to surpass next year.