Danube Properties has announced its sixth affordable housing project in Dubai — the Dh300 million Glamz Danube tower containing 418 units.
The development, which is split between two blocks on top of a podium containing ground floor retail units and parking, will be built on a plot next to its existing Starz project in Al Furjan and takes the total amount of projects under development by Danube to Dh1.8 billion, according to the company’s general manager, Atif Rahman.
Glamz by Danube will contain 258 studio apartments, plus a number of one-bed and two-bed units. It will also house a grand entrance lobby, badminton and paddle tennis courts, a health club with steam room and sauna and a swimming pool and barbecue deck.
Prices will start from Dh450,000 for a studio and will be available on a payment plan, with 25 per cent of the purchase price payable within six weeks and the remainder spread over monthly payments of 1 per cent of the purchase price each month.
Mr Rahman said that, as with previous schemes, all of the units will contain living room space that can be converted into an extra bedroom. A contractor is expected to be appointed within 2-3 months and the building is due for completion by September 2018.
He said that all of its existing projects — including Dreamz, Glitz, I, II and III and its Starz — were all running on schedule, and that the Glitz projects were currently four months ahead of schedule. It currently has 1,711 units within its project pipeline, he added.
Danube Properties chairman Rizwan Sajan said that he had been able to launch new projects every three or four months because of “the confidence people have in the name” of Danube Properties.
“Secondly, I feel that because 65-70 per cent of the building material that goes into the construction belongs to us, we always ensure, whether the building is sold or not, that the construction will be ready [on time]. I don’t launch big, big projects worth billions of dirhams at any time. I launch projects that are Dh300m-500m per time. If a project is not sold, I should be capable enough to deliver it.”
Mr Sajan also said that Danube Properties will open a sales office in the Saudi Arabian capital, Riyadh, within the next month to follow on from the launch in the past few weeks of a similar office in Mumbai. Both are to support sales in Dubai, he said.
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