Category: News

Influx of more units give residents more leeway to negotiate prices

Property developers are racing against time to complete and handover residential projects despite a sustained correction in prices in Dubai this year as they completed record 20,978 units in first half of 2019, says a new report.

According to the ‘Property Finder Trends’ report for January-June 2019, the total number of completed residential units included 14,999 apartments, 1,084 serviced apartments and 4,895 villas and townhomes.

Overall residential stock in Dubai is expected to reach 637,000 units by the end of next year, reflecting an increase of 10 per cent. Experts said a price correction and higher supply will promote Dubai as an affordable market, aside from offering residents and investors an opportunity to bargain a better property deal in one of the most popular and developed cities of the world.

Shaher Mousli, chairman of Arthur Mackenzy Properties Group, said the projected supply will surely create a surplus in available stock, which can – and in all probability will – result in an approximately 20 per cent softening in prices.

“The fact that would motivate sales is payment plans and relaxed terms as opposed to the price itself,” he said.

The report further said that an additional 38,426 residential units within 152 projects across Dubai are expected to come online this year as these units were at least 85 per cent completed by the end of July. It said 29,397 apartments, 3,387 villas or townhouses and 5,642 serviced apartments are expected to be done by the end of this year. However, even with a high completion status, not all projects will achieve that this year, going by previous materialisation rates.

Alan James Gammon, general manager of Samana Developers, said the current real estate market is dominated by news of deliveries as most developers were racing against time to deliver properties in time for Expo 2020 Dubai.

“The current summer lull, we believe that by offering a well-priced quality product it creates a massive opportunity for end-users who were unable to join the property market due too previously high prices, as well as investors who might opt for large block-buying for higher returns due to the attractive return options,” he said.

Gammon said there is a strong indication that the real estate market will continue to grow due to attractive pricing and payment plans, which will encourage middle-income families to buy homes for the first time. Families with stable jobs and steady incomes are expected to continue to enter the market to take advantage of market conditions, he added.

“We are a firm believers in the long-term sustainability of the UAE’s real estate market. That’s why we entered the market when many people started doubting it,” he added.

Lynnette Abad, director of data and research at Property Finder, said increased residential supply bodes well for residents as they will continue to have more leeway to negotiate prices in the rental market.

“With a record number of units expected for the second half of the year, we can expect prices to decline further as the market continues to absorb these units,” she said.

For the sales market, Abad said an influx of new supply, without being outstripped by demand, will continue to make the city more affordable both for residents as well as investors.

The report said 33,982 residential units were under construction in Dubai last year with a completion status of at least 65 per cent scheduled for 2019.

“Less than a few thousand of those units ended up completed by the end of 2018, and most were pushed to 2019. With nearly 20,000 already completed in the first half of 2019, and another 38,426 with a status of at least 85 per cent complete, the market is set for some record numbers in completions,” the report said.

Atif Rahman, director and partner at Danube Properties, said the Dubai economy has the power to absorb the controlled supply that continues to add to the current inventory as the emirate continues to attract property buyers.

“Besides, the current price and rent status make properties a very lucrative for investment and we expect massive investment in real estate in the next few months and years,” he said.

He said the announcement of Berkshire Hathaway entering Dubai is another evidence of how seriously global real estate expert feel about Dubai’s realty industry.

“In addition to that, a large number of end-users with stable jobs – who were priced out previously – are now finding the current prices lucrative and entering the market for the first time. Once this trend catches up, the trend will push up the demand high.”

Among notable handovers this year so far include the DT1 tower in Downtown Dubai, which added 130 apartments; 44 villas within Al Sarfa compound by wasl properties in Al Sufouh; 512 villas in the Sidra Community and another 1,312 villas in the Maple I and Maple II sub-communities of Dubai Hills Estate; 48 villas in Sobha’s Hartland Estate in Mohammed bin Rashid City; and 426 apartments in Emaar’s Vida Hills.

Within the Town Square by Nshama, there were six additional projects that were expected by the end of 2018. So far this year, 579 units in Safi Apartments and 680 additional units in Zahra Breeze were completed, and others can be expected to follow by the end of 2019.

The first phase of Arabella villas, Seventh Heaven in Al Barari, Acacia apartments in Park Heights within Dubai Hills Estate, 458 townhouses in Serena and Jenna apartments in Town Square are also expected to be completed in 2019. In addition, Phases 1 and 2 of Azizi Victoria yielding 2,550 apartments in total, Wind Tower 1 and 2 in Jumeirah Lakes Towers with 620 apartments and three towers yielding 1,427 apartments in Al Habtoor City are also expected to come online this year, according to the report.

In a rare joint interview, billionaire businessman Rizwan Sajan sits down with brother Anis and only son Adel to share what it really takes to build a lasting family dynasty.

Joining the family business was never going to be a walk in the park for Adel Sajan.

“You know how you have summer holidays between schools? I used to spend my summer holidays at our building materials shop in Deira,” he says, laughing.

Then again, if your father is Rizwan Sajan, the man who transformed that same, small Deira trading office into one of the region’s biggest suppliers of building materials – the Danube Group – you might as well skip the holidays to try and keep up.

A lot of the staff [had] the notion that this 22 year-old is coming in because he’s ‘daddy’s son’

Since the age of 13, that’s exactly what Adel’s been doing. At just 29 years old today, he has transformed the group’s home décor and furniture wing Danube Home (previously Buildmart) into a global force spanning the UAE, Oman, Saudi Arabia, Qatar and Bahrain.

The one-stop destination for furniture and interior design assistance offers customers up to 50,000 individual products sourced from the US, Germany, Turkey, Spain, India, Malaysia, Vietnam, China and Italy.

But he’s not stopping there. Under young Sajan’s leadership, the brand aspires to open eight new stores annually, adding 500,000 sq ft of retail space over the next five years.

Had it not been for his father’s strict instructions to brand managers – “don’t treat him like my son, be extra strict with him” – Sajan might not have done any of the above. Luckily, his father threw him into the deep end from the very beginning.

“He sent me abroad with a million dollars and said, ‘Go and source chandeliers’. [Just like] you throw a kid into a swimming pool… he throw me into buying, without any experience…”

Despite many a missed summer parties, it worked out well for Sajan. “I started to enjoy it,” he recalls.

But if you’re driving a Ferrari to work, what’s not to enjoy?

“I made my dad buy me a Ferrari,” he says. “That was something I’d wanted for a long-time.”

Of course, the young Sajan is no stranger to the luxury life. In 2017, his father spent a whopping $30m on his son’s wedding, which was held over four days on a Bollywood-themed cruise in the Mediterranean. The 1,100 guest-list comprised the richest and most famous from India and the UAE, including Bollywood stars Shilpa Shetty Kundra, Gauhar Khan, and music directors Meet Bros and Vishal-Shekhar.

His father told Arabian Business at the time, “The wedding of my only son Adel is by far the most awaited event of my life and words cannot express the joy I feel.”

When we started the real estate business, we decided we are not going to target the luxury business

And while he’s all for providing a comfortable life for his family, the elder Sajan quickly jumps in to clarify his purchase of the Ferrari, stating that his son was only given the Italian supercar once he had fully earned it.

“Value of money is important. I remember [Adel] would get AED10 pocket money and he would ask for extra money, so I would say ‘go wash my car’,” says the founder and chairman of the Danube Group, himself worth at least $2.5 billion.

Though his son Adel has since switched to an equally lavish black Bentley with customised red interiors, to be fair, he’s bought it all on his own.

And why wouldn’t he? He is already looking to develop the brand by trying out the franchising model.

“We have tied up with different partners and opened in Tanzania, Seychelles, Uganda and now we have plans to open in Nepal, Egypt, Zambia and Lebanon,” he says.

“Currently, in franchises, we have about five stores in three countries, but, this year, we signed a lot of contracts. So by the end of 2019, we should be in 10 countries, excluding our home markets. Initially, it takes time, but it’s picking up.”

The numbers back Sajan’s statement. In 2014, he set a plan to grow the retail business as much as 10 times in the span of six years. For the past four years, he’s been on track.

His secret? “Luck,” he says. But something tells us good fortune played only a small part in his success. Because while joining the family business comes with lots of pros (a Ferrari is one example), Sajan had to prove he wasn’t ‘a daddy’s boy.’

“You get a big jumpstart in that, by the time I had graduated, I had experience in buying, selling, warehousing, logistics, marketing… so I had five or six years’ experience before I graduated.”

“But, one of the things [you face] when you come in as the chairman’s son is that a lot of the staff will have the notion that they have this 22 year-old coming in because he’s ‘daddy’s son’ [and they say] does he really deserve it? It takes a couple of years [to] get the team on board and prove yourself,” he says.

His uncle, Anis, was still in college when he, too, was asked to join his brother, Rizwan, in leading the firm.

“He said, ‘Why don’t you come over [to Dubai]?’ and I said ‘why not?’”

By the end of 2019, we should be in 10 countries, excluding our home markets. Initially, it takes time, but it’s picking up

Now the group’s managing director, Anis says he had “no second thoughts” about leaving school to work alongside his brother.

Similarly to Adel, Anis credits being “at the right place at the right time” as the reason behind the company’s ability to grow at a 30-40 percent rate.

But chairman Rizwan says it’s largely to do with smart recruitment. “Recruitment was the key – getting the right people, making sure they are handling the right things. When you are going at that speed, you have to look not only at the numbers and the sales, but make sure the processes are in control. Because you can be taken for a ride if you are not controlling the processes, the logistics department, the HR department,” the elder Sajan says.

The rapid rise he’s speaking of appears to be still going. This time, in the company’s development arm Danube Properties, which was set up in June 2014 with a focus on affordable housing and an initial AED500m ($136m) launch of townhouses at Al Furjan.

Since then, it has continued to expand its development portfolio, with 12 projects as of April this year and a development portfolio of over 5,000 units and combined value exceeding $1bn.

Last year, despite a slowdown in Dubai’s real estate market, Danube Properties recorded a 78.5 percent jump in sales of residential units, bringing its total market share of off-plan sales to 10.6 percent, up from 5 percent in 2017.

“When we started the real estate business, we decided we are not going to target the luxury business [because]… there’s a huge population of expats [in Dubai]. How will the expats be able to buy, as they don’t have that kind of money? Then we came up with the affordable housing idea,” says the chairman.

“I have a lot of competitors and everyone asks me ‘how are you so successful?’” he says.

I’d love to slow down, but unfortunately, it’s in my genes to work

His secret? The 1 percent plan. “You pay a little down payment, and that formula worked a lot. Then we also had our Danube brand for nearly 25 years… Because we are in the building materials business, it is easier to find the right architect, [so] when we launch, we are able to sell very fast and then, most importantly, to find the right contractor. Because it is easy for them to work with us as 60 – 70 percent of materials required is laying with us,” he says.

While Sajan admits the real estate market is “low,” his formula is simple: launch one project at a time.

“If that is sold successfully, we go to the next one,” he says assertively, meaning there’s no need for the company to have a land bank in Dubai, he adds, particularly at a time when land prices are falling.

“We don’t have a land bank. We buy one at a time. The price is not going up, so there’s no point having a land bank. We buy the land as and when we need it… Land prices have come down, I say about 20-25 percent in the last couple of years.”

But Expo 2020 Dubai might very well change that, according to his brother Anis.

“I’m sure the Expo is going to definitely help. History says wherever an Expo has happened, whether it is Milan or Shanghai, the after-effects have been beneficial… Expo will get more and more people to come to this country and that will help the real estate market,” he says.

By the time I had graduated, I had experience in buying, selling, warehousing, logistics, marketing

Will the Sajan family itself need help when chairman Rizwan retires? It’s unlikely.  “Slowing down is very difficult for me,” he admits. “I’d love to slow down, but unfortunately, it’s in my genes to work…”

While it’s only a matter of time before the next generation of Sajans begin their grooming and ultimate takeover of the Danube dynasty, judging by the younger Adel’s skipping of summer holidays to work in his father’s building materials shop, the hard work gene definitely runs in the family.

Danube Properties has announced the completion of is 454-unit Starz residential project. The firm also says that its 426-unit Glamz project is in the pre-completion stage. The developer says once the 880-units of Starz and Glamz are delivered, it will have delivered a total of 1,711 residential units worth $460 million to date.

According to a statement, the projects use green and sustainable building technologies, while the smart homes are said to be fitted with the latest facilities, amenities and the latest modular home furnishings, with upgraded materials used during the construction phase. The developer notes that the materials are ‘more advanced than those promised during the launch of the projects’.

“As we move closer to Expo 2020, we see renewed confidence in the UAE real estate market. The complete sell-out of our projects reflects a strong investor confidence in not only the Dubai real estate market, but also in Danube Properties. Today we are not only delivering homes but delivering promises we made to home buyers who have put their faith in us,” said Rizwan Sajan, founder and chairman of Danube Properties.

The developer sys residents will enjoy easy access to Dubai’s public transport, with a metro station within two minutes walking distance from Glamz and three minutes from Starz.

Atif Rahman, the director and partner added, “A developer’s strength of character and commitment reflects on the quality of construction and the number of project deliveries. Our record of continuous development and timely delivery of properties speaks volumes about our strong commitment to quality, timely delivery and our solid commitment to our home buyers. Today marks a great milestone in the history of Danube Properties as we will be delivering six out of the 12 projects launched by us, in less than five years. Our launch-to-delivery ratio is one of the highest in this region.”

Danube Properties celebrates the completion of Dh570 million Starz and Glamz projects on time

Dubai, UAE

Danube Properties today achieves the completion of 454 units in Starz and pre-completion of 426 residences in Glamz – its fifth and sixth residential projects – that is being celebrated at a glittering ceremony with a series of laser shows and fireworks that light up the sky.

Both the projects – Starz and Glamz – were launched and sold out in 2016 and completed in record time in 2019 that reflects the developer’s strong commitment to customers. Once the planned hand-over of 880 units in Starz and Glamz are completed, Danube Properties will have delivered 1,711 residential units, worth Dh1.69 billion, part of its portfolio of 5,019 residences, worth Dh3.82 billion, in less than five years after it launched its maiden project – Dreamz in June 2014.

Built with the latest green and sustainable building technologies, the smart homes within both the projects are fitted with the latest state-of-the-art facilities and amenities including built-in wardrobes, the latest modular home furnishings with upgraded materials used during the construction phase – more advanced than those promised during the launch of the projects.

The 880 homes comes with the best-in-class lifestyle amenities, including fully-fitted gymnasium, health club, swimming pool, large reception area, community areas with landscaped greenery, ample car parking and other facilities – all offered at a very affordable price and with a 1 percent monthly payment plan.

Once handed over, the residents will also enjoy easy access to Dubai’s public transport with a metro station within 2-minutes walking distance from the Glamz and three minutes from Starz. Residents will be able to reach the Expo 2020 site in just 7-10 minutes through the metro station and catch a flight at Al Maktoum International Airport – which could be reached in 15 minutes from the nearest metro station.

“As we move closer to the Expo 2020, we see renewed confidence in the UAE real estate market. The complete sell-out of our projects reflect a strong investor confidence in not only the Dubai real estate market, but also in Danube Properties,” Rizwan Sajan, Founder and Chairman of Danube Group, says. “Today we are not only delivering homes, but delivering promises we made to home buyers who have put their faith in us.

“We are a firm believer in the long-term sustainable development of real estate projects and there is no better market than the UAE, especially Dubai. With our projects, we have defied the odds and demonstrated our ability in offering affordable homes that have been snapped up by buyers.

“Despite some negative perceptions about the market, I am happy to announce that all our properties have been well received by buyers and are sold out. As the market matures, we see good opportunities in the market in which developers with long-term commitment will do well.”

Danube Properties’ new home deliveries come at the backdrop of its stellar performance in 2018 – its best year so far – when a whopping 78.5 percent jump in sale of the number of residential units has boosted Danube Properties’ market share of off-plan sales to 10.6 percent in 2018, compared to the 5 percent in 2017.

The company last year sold a total of 1,869 residential units, according to its annual report. Among the total number of properties sold by Danube Properties, 89 were ready-to-move-in while the rest 1,780 units were off-plan properties. The sales price of 1,869 units increased by 19.26 percent to Dh978 million last year, compared to the sales price of 1,047 units worth Dh820 million in 2017, the report shows.

Atif Rahman, Director and Partner of Danube Properties, says, “A developer’s strength of character and commitment reflects on the quality of construction and the number of project deliveries. Our record of continuous development and timely delivery of properties speaks volumes about our strong commitment to quality, timely delivery and our solid commitment to our home buyers.

“Today marks a great milestone in the history of Danube Properties as we will be delivering six out of the 12 projects launched by us, in less than five years. Our launch-to-delivery ratio is one of the highest in this region.”

All the apartments within Starz and Glamz are offered at an affordable price and with a convenient payment plan of 1 percent – something that Danube has pioneered in the UAE’s real estate market.

“However, we have not compromised on quality. What Danube has achieved over the last five years, is that it has changed the perception of affordable homes. What we are offering is – affordable luxury. Our properties are luxury properties, but offered at affordable price.

“With the launch of Starz in 2016, we pioneered in introducing specially designed modular furniture. This will help the residents maximise the use of available space by converting the living room into a bedroom at night. We remain committed to deliver happy communities with phenomenal value addition. I am confident, buyers of properties in Starz and Glamz will be extremely delighted with the quality of finishing and timely delivery,” Atif Rahman concludes.

Danube Properties has so far awarded Dh1.6 billion worth of construction contracts involving 10 of the 12 projects launched so far. In 2018, Danube completed construction of 358 residential units while it awarded construction contracts for 926 units.

UAE-based Danube Properties today (April 27) celebrated the completion of 454 units in Starz and pre-completion of 426 residences in Glamz – its fifth and sixth residential projects – in style with a series of laser shows and fireworks that lit up the sky.

 

Both these projects – Starz and Glamz – got sold out in 2016 and have now been completed in record time in 2019 thus reflecting the developer’s strong commitment to customers, said a statement from Danube.

 

Once the planned hand-over of 880 units in Starz and Glamz get completed, Danube would have delivered a total of 1,711 residential units worth Dh1.69 billion ($460 million) till date.

 

It is part of Danube’s portfolio of 5,019 residences, worth Dh3.82 billion, in less than five years after it launched its maiden project – Dreamz in June 2014.

Built with the latest green and sustainable building technologies, the smart homes within both projects are fitted with the latest facilities and amenities including built-in wardrobes, the latest modular home furnishings with upgraded materials used during the construction phase – more advanced than those promised during the launch of the projects.

 

Danube said the 880 homes come with the best-in-class lifestyle amenities, including fully-fitted gymnasium, health club, swimming pool, large reception area, community areas with landscaped greenery, ample car parking and other facilities – all offered at a very affordable price and with a 1 per cent monthly payment plan.

 

On hand-over, the residents will also enjoy easy access to Dubai’s public transport with a metro station within 2-minutes walking distance from the Glamz and three minutes from Starz, stated the developer.

 

Residents will be able to reach the Expo 2020 site in just 7-10 minutes through the metro station and catch a flight at Al Maktoum International Airport – which could be reached in 15 minutes from the nearest metro station, it added.

 

“As we move closer to the Expo 2020, we see renewed confidence in the UAE real estate market. The complete sell-out of our projects reflect a strong investor confidence in not only the Dubai real estate market, but also in Danube Properties,” remarked Rizwan Sajan, the founder and chairman.

“Today we are not only delivering homes, but delivering promises we made to home buyers who have put their faith in us,” he added.

 

Atif Rahman, the director and partner, said: “A developer’s strength of character and commitment reflects on the quality of construction and the number of project deliveries. Our record of continuous development and timely delivery of properties speaks volumes about our strong commitment to quality, timely delivery and our solid commitment to our home buyers.”

 

“Today marks a great milestone in the history of Danube Properties as we will be delivering six out of the 12 projects launched by us, in less than five years. Our launch-to-delivery ratio is one of the highest in this region,” he added.-TradeArabia News Service

 

Dubai developer Danube Properties recorded a 78.5 per cent growth in the sales of residential units last year, it announced on Wednesday.

The company sold a total of 1,869 residential units, including 89 ready-to-move-in units and 1,780 off-plan properties.

The sales value of the properties sold last year increased by 19.26 per cent to Dhs978m, compared to Dhs820m made by selling 1,047 units in 2017, a statement said.

Danube Properties said it has awarded Dhs1.6bn worth of construction contracts involving 10 of the 12 projects launched so far.

In 2018, Danube completed construction of 358 residential units while it awarded construction contracts for 926 units.

The developer had 1,339 units under tendering stage and a further 17 per cent in design stage.

Atif Rahman, director and partner of Danube Properties, attributed the growth to the company’s focus on the affordable housing market.

“Our consumer sensitive business approach is paying off. These results show that if you have the right properties at the right location and are offered at the right price with the most competitive payment plan, customers will buy them.”

The company said its share of the Dubai off-plan sales market has risen to 10.6 per cent in 2018, compared to 5 per cent in 2017.

The developer also increased its headcount to 220 last year, up from 151 in 2017, it said.

Part of the Danube Group, Danube Properties launched in June 2014 with the Dhs500m Al Furjan project. The company currently has a development portfolio of 3,680 units, with a combined value exceeding Dhs3.14bn.

Rizwan Sajan, founder and chairman of Danube Group, said: “We see strong growth opportunities, and we remain fully committed to the local economy and the real estate sector with more project launches as we move forward.”

Dubai’s property market has seen a slump in the last few years, with analysts expecting a further drop in prices this year.

One of the main reasons for the drop has been over-supply in the market, along with tough economic conditions.

Danube Properties today achieves the completion of 454 units in Starz and pre-completion of 426 residences in Glamz – its fifth and sixth residential projects – that is being celebrated at a glittering ceremony with a series of laser shows and fireworks that light up the sky.

Both the projects – Starz and Glamz – were launched and sold out in 2016 and completed in record time in 2019 that reflects the developer’s strong commitment to customers. Once the planned hand-over of 880 units in Starz and Glamz are completed, Danube Properties will have delivered 1,711 residential units, worth Dh1.69 billion, part of its portfolio of 5,019 residences, worth Dh3.82 billion, in less than five years after it launched its maiden project – Dreamz in June 2014.

Built with the latest green and sustainable building technologies, the smart homes within both the projects are fitted with the latest state-of-the-art facilities and amenities including built-in wardrobes, the latest modular home furnishings with upgraded materials used during the construction phase – more advanced than those promised during the launch of the projects.

The 880 homes comes with the best-in-class lifestyle amenities, including fully-fitted gymnasium, health club, swimming pool, large reception area, community areas with landscaped greenery, ample car parking and other facilities – all offered at a very affordable price and with a 1 percent monthly payment plan.

Once handed over, the residents will also enjoy easy access to Dubai’s public transport with a metro station within 2-minutes walking distance from the Glamz and three minutes from Starz. Residents will be able to reach the Expo 2020 site in just 7-10 minutes through the metro station and catch a flight at Al Maktoum International Airport – which could be reached in 15 minutes from the nearest metro station.

“As we move closer to the Expo 2020, we see renewed confidence in the UAE real estate market. The complete sell-out of our projects reflect a strong investor confidence in not only the Dubai real estate market, but also in Danube Properties,” Rizwan Sajan, Founder and Chairman of Danube Group, says. “Today we are not only delivering homes, but delivering promises we made to home buyers who have put their faith in us.

“We are a firm believer in the long-term sustainable development of real estate projects and there is no better market than the UAE, especially Dubai. With our projects, we have defied the odds and demonstrated our ability in offering affordable homes that have been snapped up by buyers.

“Despite some negative perceptions about the market, I am happy to announce that all our properties have been well received by buyers and are sold out. As the market matures, we see good opportunities in the market in which developers with long-term commitment will do well.”

Danube Properties’ new home deliveries come at the backdrop of its stellar performance in 2018 – its best year so far – when a whopping 78.5 percent jump in sale of the number of residential units has boosted Danube Properties’ market share of off-plan sales to 10.6 percent in 2018, compared to the 5 percent in 2017.

The company last year sold a total of 1,869 residential units, according to its annual report. Among the total number of properties sold by Danube Properties, 89 were ready-to-move-in while the rest 1,780 units were off-plan properties. The sales price of 1,869 units increased by 19.26 percent to Dh978 million last year, compared to the sales price of 1,047 units worth Dh820 million in 2017, the report shows.

Atif Rahman, Director and Partner of Danube Properties, says, “A developer’s strength of character and commitment reflects on the quality of construction and the number of project deliveries. Our record of continuous development and timely delivery of properties speaks volumes about our strong commitment to quality, timely delivery and our solid commitment to our home buyers.

“Today marks a great milestone in the history of Danube Properties as we will be delivering six out of the 12 projects launched by us, in less than five years. Our launch-to-delivery ratio is one of the highest in this region.”

All the apartments within Starz and Glamz are offered at an affordable price and with a convenient payment plan of 1 percent – something that Danube has pioneered in the UAE’s real estate market.

“However, we have not compromised on quality. What Danube has achieved over the last five years, is that it has changed the perception of affordable homes. What we are offering is – affordable luxury. Our properties are luxury properties, but offered at affordable price.

“With the launch of Starz in 2016, we pioneered in introducing specially designed modular furniture. This will help the residents maximise the use of available space by converting the living room into a bedroom at night. We remain committed to deliver happy communities with phenomenal value addition. I am confident, buyers of properties in Starz and Glamz will be extremely delighted with the quality of finishing and timely delivery,” Atif Rahman concludes.

Danube Properties has so far awarded Dh1.6 billion worth of construction contracts involving 10 of the 12 projects launched so far. In 2018, Danube completed construction of 358 residential units while it awarded construction contracts for 926 units.

Dubai-headquartered Danube Properties – a subsidiary of Danube Group that was founded by Indian real estate tycoon Rizwan Sajan – said its $266.3m (AED978m) sales in 2018 doubled its share in the off-plan market to 10.6%.

In a statement, the company revealed said 2018 was a successful year despite tough market conditions, adding that it sold 1,869 residential units in 2018.

Commenting on the company’s performance, Rizwan Sajan, founder and chairman of Danube Group, said: “Despite strong headwinds affecting the growth of the global economy, the UAE economy remains an oasis for growth.

“We see strong growth opportunities, and we remain fully committed to the local economy and the real estate sector with more project launches as we move forward,” added Sajan.

Danube has 12 projects in its portfolio, comprising 5,019 delivered and under-construction units, all worth $1bn (AED3.8bn). Last year, the developer completed 358 homes, and awarded construction contracts for 926 units.

Construction contract awards for 10 of Danube’s 12 projects to date are valued at $435.6m (AED1.6bn).

As of 2018, Danube Properties had a team of 220 professionals, up from 151 in 2017.

Danube Properties has taken up responsibilities to help and build the future by giving students specializing in Real Estate Management from SPJIMR, the opportunity to attend a specialized training program to help them understand the real estate sector and become industry leaders.

The training workshop took place on February 11, 2019, and was attended by five 18+ students along with their teacher. The purpose of this training workshop was to further understand the Danube group and Danube properties’ business structure and how the brand is so successful.

The event is part of Danube Properties’ Corporate Social Responsibility (CSR), that aims to develop local talents so that the industry could rely on home-grown human resources and advance in sustainable development.

The training started with Danube properties office tour, then corporate presentations on Danube group’s 25 years of reputable path and concluded by explaining the sales and marketing strategies that have been the pillars of Danube properties success. The workshop objectives were covered in depth to educate and motivate these young minds who are about to become the industry’s future pioneers, as the world is becoming more competitive, where only those with the exceptional strategies and execution techniques will lead.

While speaking about this activity, Mr Atif Rahman, Director and Partner of Danube Properties, said, “I am extremely glad to host this training at our Danube Properties Head office. I’m impressed by the hunger for knowledge these students have and it feels great to satisfy them. These students are our future. They are going to manage the future real estate world and each of them has the potential to be a great business leader.

“Danube Properties always supports CSR activities as such, which help in constructing a better community. As a developers, our key objective is not only to deliver projects on time and with supreme quality, but also to be useful in the society we live in. We promise to come up with more activities like this, to enhance the community and build the future by supporting great initiatives.”

At least one new property project and more Danube Home stores are in the pipeline for 2019, Sajan tells Construction Week

Danube Group’s real estate arm, Danube Properties, will focus development activity in Dubai this year, with the launch of at least one new project in the coming months, founder and chairman, Rizwan Sajan, said.

The real estate project will be unveiled in either March or April 2019, and will be similar in size and scale to the $149m (AED550m) Lawnz residential development launched in June 2018.

The unnamed community project will feature amenities such as a swimming pool, a gym, a running track, a cinema room, and shops.

In conversation with Construction Week‘s deputy editor Oscar Rousseau, Sajan told the Construction Week Viewpoint podcast that Danube was “very close” to acquiring the right land plot for its next project.

When asked if this would be Danube’s only new real estate project in 2019, Sajan said: “Our formula is very simple – once we launch a project, it should be sold at least by at least 75-80% [before] we put it to under construction, and only then do we move on to a new project. Am going to launch any other new projects? Yes, I will launch a new a new project, but only if I sell this one by 75-80%.”

Speaking on his plans to take the group forward in 2019, Sajan said the firm would create new jobs in 2019 as it opens more Danube Home stores in the GCC.

Construction Week Viewpoint is a weekly podcast show that regularly features business experts and commentators to discuss construction, real estate development, and related sectors in the Middle East.

Check Podcast:  https://soundcloud.com/constructionweek/podcast-danube-chairman-targets-more-dubai-projects