Danube Properties’ 5th Residential Project of 2022 Sold Out

BY Realty+

The UAE-based affordable housing and private real estate developers in the UAE, sold out Elitz, its fifth residential project in 2022 with a development value exceeding Dh550 million, marking a record year for the developer.

Elitz, to be developed at 36,930 sq ft plot of land at Jumeirah Village Circle, will have a built-up area of 695,000 sq ft. It will deliver 268 studios, 203 One-bedroom apartments, 65 two-bedroom flats, 13 Three-bedroom flats, and four duplexes. Elitz is a twin-tower project that is connected by a podium complex that houses car parking, community facilities as well as 284 retail units. Elitz has been sold out at launch, snapped up by the investors, buyers, and brokers, which reflects the strong buyer interest. The project is planned for handover in the fourth quarter of 2025 to the customers.

“The real estate market in Dubai has come out of age and has demonstrated resilience by registering growth amid the biggest pandemic in human history, by recording Dh300 billion sales and mortgage transactions last year, which is definitely going to be broken this year to create a new record,” Rizwan Sajan, Founder and Chairman of Danube Group said in Dubai.

“For Danube Properties, 2022 is going to be a record year for us when we launched six sold-out projects–consecutively, this reflects the buoyancy in the market and strong investor interest in quality homes. It reflects customer loyalty and the goodwill developed by Danube Properties in the market. We take this opportunity to thank our customers – our biggest stakeholders, Dubai Land Department, and other partners for a record-breaking year. “As we close 2022, we look forward to a new year with renewed hope of delivering some more landmark projects while delivering the under-construction projects to take the real estate market to the next level.”

Residents of Elitz come with more than 30 amenities and Danube Properties' benchmark facilities penthouses, and common-use facilities offer views of the neighborhood on all sides of the building – that redefines luxury lifestyle.

It also introduces home-office solutions in two-bedroom apartments where families can convert a part of the open space into a co-working facility to manage work from home which is becoming the trend following the COVID-19 pandemic. Most companies now allow professionals to work from home which saves time, reduces traffic on the street, and increases productivity. Moreover, it offers a better work-life balance. Prices of a Studio Apartment start at Dh599,000. Buyers booking on the first day of the project launch will get fully furnished apartments.

Elitz is the 20th real estate project launched by Danube Properties so far within eight years of the launch of its first project in 2014. It has so far delivered 13 of the 20 projects launched earlier – making it one of the most successful developers when compared to announced vs delivered projects. 

With the launch of Elitz, Danube Properties’ current development portfolio exceeds 8,779 units, with a combined sales value exceeding Dh6.75 billion. It has so far delivered 4,556 units with a combined sales value of Dh3.63 billion – more than half of the entire portfolio value. Once built, Elitz will be surrounded by ample community facilities.

The project boasts energy-efficient automatic lights, a water conservation system, environmentally friendly /eco-friendly, and the most futuristic building with a contemporary design and LED lighting façade. All apartments in Elitz are smart homes – owners will have access to home appliances through a smart home system. Danube Properties offers home-owners 10-year Golden Visa – especially those who qualify as per the investment criteria – subject to government approval. 

Danube Properties has recently launched two projects Gemz and Pearlz in Al Furjan residential development located between Sheikh Zayed Road and Mohammed Bin Zayed Road. In May this year, it launched Gemz and in September this year, it launched Opalz – all sold out at launch. The end-users and brokers had lined up before the stipulated time and thronged Danube Properties office as soon as it opened. This demonstrates buyers’ confidence in Danube Properties.

Tags : affordable housing private real estate developers UAE Rizwan Sajan Founder and Chairman Danube Group