TURNING VISION INTO VALUE RIZWAN SAJAN'S FORMULA FOR SUCCESS

Rizwan Sajan's life story reads like a Bollywood script. When he arrived in Dubai in 1993, he had little money, but plenty of resolve. What began as a modest building-materials brokerage would, over time, grow into a multibillion-dollar empire. "It was in 1990s that Dubai began its dramatic transformation from a modest desert city into a global metropolis. And for me it meant being in the right place at the right time. As Dubai built its skyline, Danube supplied materials, aligning perfectly with the city's construction boom of the early 2000s," shared Rizwan Sajan The company launched its real estate division in June 2014, and the 1% payment model was part of its strategy shortly after, that has allowed middle-income buyers access to Danube homes with all the amenities expected in a luxury property.

How do you sustain the 1% payment plan with luxury amenities in an increasingly cost-sensitive market?
Sajan: Affordable luxury is what people require. You require all the amenities, all the luxury. Also, you want the price to be normal. And we are able to do at Danube because there area lot of backward integration. When I say backward integration, we have our own building rental company. So, you save a lot of money in that. Even the furnishing, ifyou furnish this apartment on your own, it's going to cost you a lot of money. But we at Danube, because we have our Danube home company, so we save a lot of money in the furnishing also. Plus, the contractors, I know them very well. So, I am able to hire the good contractor at good price. So, that is the reason we can provide affordable luxury along with monthly installments as low as 1% of a property's value.

How is the mid-income housing market evolving in Dubai?
Sajan: Mid-income housing market is the key segment in Dubai real estate. UAЕ real estate prices are more affordable compared to US, London, Canada, Singapore-even Mumbai. As per my estimates, in the lastthree months, 50,000 people came to Dubai and these first-time buyers-salaried professionals and small business owners are driving large chunk of housing demand. You can buy the best property in Rs 3-5 crore. At Danube, you don't have to pay the full amount, only 20% down payment and after that1% per month, so anyone can afford it.

What has been the impact of real estate boom on Dubai city?
Sajan: Dubai is a booming city and will remain a land of opportunity for talented professionals and entrepreneurs from allover the world. I think the biggest problem today is that traffic has increased. But, with government investments in expanding major highways, Dubai Metro, and cutting-edge smart traffic systems, the congestion problem will get resolved in next two years. So, they are taking care of this in the urban planning of the city.

Any geographical expansion and partnership plans for the company?
Sajan: Majority of my business which І do, it's only on my own with the bank support and with the liquidity which we create through profits from the previous building which we have delivered. I have offers from all the GCC and I might go to Abu Dhabi. But not out of UAE. And this plan is for next 5-6 years. As of now, I would concentrate on Dubai.

What does the Danube portfolio look like in 2030?
Sajan: Every year, we plan to launch 4-5 buildings and deliver 4-5 projects. So that cycle will continue. About 20-25 buildings are going on in construction and I am delivering 4-5 buildings, next every year. I don't want to over leverage. Residential segment remains our primary focus for the next 5-6 years.

How important is a brand in real estate?
Sajan: Building a brand is very important and is the most difficult thing too. It doesn't happen overnight, it requires earning trust of the people, correct marketing strategies & most importantly depends on the person behind the brand. The challenge is to consistently keep delivering on the expectations of your customers. However, oncea brand is established, you don't have to run after customers, they will come to you. But yes, if itwas so easy everybody would have built a brand. It's a continuous process - notjust talking big, but delivering on what you said.


One personal value that powered yourjourney. Finding opportunity in adversity For you what is UAE Vision 2030? Futuristic Your favorite Danube project?
Sharukhz by Danube -World's first building named after star celebrity & Danube's first pure commercial building. Your biggest risk-taking moment. Starting the business in 1993 A business lesson for every young entrepreneur. Start early, work with somebody, take the experience & then start your business.