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Located in the heart of Dubai, Fashionz by Danube and FashionTV is a luxurious residential tower featuring 700+ apartments spread over 65 floors. Each apartment is designed to embody the sophistication and glamour associated with the extravagant FashionTV brand. Fashionz is Danube’s commitment to affordable luxury for the residents of Dubai with apartments starting at Dh 850,000.

Rizwan Sajan, Founder and Chairman of Danube Properties, added, “We are thrilled to collaborate with FashionTV for Fashionz. We wanted to bring glamour and luxury fashion into real estate. After all our homes are an extension of who we are and where and how we live should reflect our lifestyles too. We wanted to offer this aspirational glamour to our buyers who are fond of all things luxurious but also affordable. The worldwide recognition and appeal of FashionTV will complement Danube Properties’ vision to establish an ultra-fashionable residential tower that will stand out on its own and be a remarkable addition to the iconic Dubai skyline.”

Michel Adam, Founder of FashionTV, commented, “I am thrilled to see FashionTV partnering with Danube Properties to create Fashionz in Dubai. I believe this project will perfectly reflect our brand’s values and aesthetics. I can’t wait to see the final result and invite everyone to join our upcoming launch party, a true FashionTV-style celebration!

“Partnering with Danube Properties to create Fashionz has been a natural fit for us,” said FashionTV CEO, Maximilian Dennis Edelweiss. “Our brand is all about luxury, elegance, and beauty, and we believe that Fashionz will embody those qualities, creating a truly unique living experience for our residents.

“Danube Properties has always been committed to designing homes that inspire and delight its customers. We are confident that Fashionz will surpass the expectations of our valued buyers, as it reflects our unwavering dedication to excellence,” said Anis Sajan, Vice Chairman, Danube Group, Dubai.

Fashionz will be located in Jumeirah Village Triangle and is poised to become a highly sought-after address for discerning buyers seeking a lavish lifestyle in Dubai. This iconic tower is designed to cater to a diverse, international clientele who value opulence and the inimitable FashionTV brand.

Fashionz by Danube and FashionTV will feature world-class amenities, including a FashionTV gym, a FashionTV rooftop bar with a swimming pool, FashionTV restaurants, and FashionTV cafes, to cater to the needs of the residents. Fashionz will have over 40 facilities and amenities like never before including a Zumba and dance studio, meditation zone, trampoline park, fashion ramp, padel court, gazebo, skating rink, outdoor chess, fashion school, outdoor cinema, table tennis, a cigar room, a Japanese garden, a business center with meeting space, a doctor on call, and a snooker zone among others.

Danube Properties, the fastest-growing real estate developer in the UAE, sold out Viewz – the Dh2.05 billion project with Aston Martin furnishings in January. This is the second project in one year where “luxury meets affordability”.

Danube Properties launched five projects last year – Pearlz, Gemz, Opalz, Petalz, and Elitz – with 2,099 residential units with a development value exceeding Dh2.05 billion, and sold out all of them due to high demand for affordable luxury properties in Dubai. With Fashionz, Danube Properties’ current development portfolio includes 22 projects and 10,713 units.

Most Bollywood stars already consider Dubai as their second home. They remain interested in purchasing properties from the Danube Properties to permanently relocate to the emirate. Danube Properties’ head office had already been visited by a number of celebrities, including Kartik Aryan, Sanjay Dutta, Govinda, Ankit Tiwari, Meet Bros, Kiku Sharda, and Sunny Leone, among others.

Investing with Danube Properties also increases your chance of a 10-year Golden Visa – especially for those homeowners who qualify as per the investment criteria which is also subject to government approval.

https://www.zawya.com/en/press-release/companies-news/danube-properties-unveils-dubais-first-fashiontv-branded-residential-tower-l03z7ibd

Leading private developer Danube Properties on Tuesday expanded its portfolio of branded residential projects with the launch of ultra-luxury tower Fashionz in partnership with FashionTV as demand for high-end and branded residential properties continues to lead the local real estate market.

Located in Jumeirah Village Triangle (JVT), the tower features 700-plus apartments spread over 65 floors, with each apartment designed to reflect the glamour associated with the FashionTV brand. Prices for the apartments start at Dh850,000.

This is the tallest tower announced so far in JVT.

In February 2023, Danube Properties launched Viewz in partnership with luxury carmaker Aston Martin as its first branded residential project.

According to real estate consultancy Savills, Dubai tops globally for branded residences, attracting a range of domestic and international buyers.

Rizwan Sajan, founder and chairman of Danube Group, said in the UAE, especially Dubai, branded products will remain in demand as the city is known for its high-quality of lifestyle. “Demand for branded apartments will keep coming in,” he said.

Danube Properties launched five projects last year – Pearlz, Gemz, Opalz, Petalz, and Elitz – with 2,099 residential units with a development value exceeding Dh2.05 billion. All of them have been sold out due to high demand for affordable luxury properties in Dubai. With Fashionz, its current development portfolio includes 22 projects and 10,713 units.

Rizwan Sajan said the look and feel of this new project will be very classy and highly fashionable with lobby and interiors equipped with very artistic and unique products.

The tower will feature over 40 facilities and amenities including a FashionTV gym, a FashionTV rooftop bar with a swimming pool, FashionTV restaurants, FashionTV cafes, a Zumba and dance studio, a meditation zone, a trampoline park, a fashion ramp, a padel court, a skating rink, outdoor chess, fashion school, outdoor cinema, table tennis, a cigar room, a Japanese garden, a business centre with meeting space, a doctor on call, and a snooker zone among others.

Danube’s chairman said this project will bring glamour and luxury fashion into real estate.

“Our brand is all about luxury, elegance, and beauty, and we believe that Fashionz will embody those qualities, creating a truly unique living experience for our residents,” said Maximilian Dennis Edelweiss, CEO of FashionTV.

Anis Sajan, vice-chairman, Danube Group, is confident that Fashionz will surpass the expectations of the buyers.

The Danube chairman said they always delivered their projects on time. “After the pandemic, we launched six projects in 2022 and many of them are ahead of schedule in terms of deliveries. Since we source material from our subsidiaries, we deliver on time, if not ahead of schedule,” he said.

https://www.khaleejtimes.com/business/danube-properties-launches-dubais-first-fashiontv-branded-residential-tower

Danube Properties’ Viewz will deliver apartments and Sky Villas at the Jumeirah Lakes Towers in 2026. An iconic project, Viewz is Danube Properties’ 21st and largest project and sixth in the last 12 months

Dubai, UAE

News Highlights

Viewz, developed in partnership with Jumeirah Lakes Towers’ master developer DMCC, is the largest project to be unveiled by Danube Properties so far with a development value exceeding Dh1.4 billion

With Viewz, Danube Properties’ current development portfolio includes 21 projects and 10,021 units, with a combined sales value exceeding Dh8.15 billion

Danube Properties has so far delivered 11 projects and 4,555 units with a combined sales value of Dh3.63 billion – making it one of the most successful developers in terms of delivery

Danube Properties, the UAE-based affordable housing pioneer and one of the most dynamic and popular private real estate developers in the UAE, today unveiled its largest real estate project, Viewz, a set of twin high-rise towers that once complete will deliver apartments and Sky Villas, with a development value exceeding Dh1.4 billion.

Launched in partnership with Jumeirah Lakes Towers’ (JLT) master developer, DMCC, the project will re-define luxury living through Aston Martin furnished interior common areas and amenities. Customers will also be able to choose Aston Martin furnished interiors for their home. This is the first luxury residential project by Danube Properties, marking the developer’s move into the high-end real estate development market.

Viewz will be developed within Cluster K of the JLT district, next to Sheikh Zayed Road and the DMCC Metro station. This is Danube Properties’ first project in JLT.

Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer of DMCC, says, “JLT has grown to become one of the UAE’s most popular mixed-use communities, with the district providing everything that businesses, residents and visitors need to thrive. Viewz and its Aston Martin furnished interiors adds to JLT’s credentials, so we are glad to be working with Danube Properties to bring this iconic project to the community as we continue the growth of JLT.”

With Viewz, Danube Properties’ current development portfolio includes 21 projects and 10,021 units, with a combined sales value exceeding Dh8.15 billion. Out of the 21 projects launched, it has so far delivered 11 and will deliver 3 more projects in the first half of the year making it one of the most successful developers in terms of delivery.

 

Once complete, Viewz will deliver studios, one-bedroom apartments, two-bedroom flats, three-bedroom flats and Sky Villas – or duplex homes – way above the sea level giving breath-taking views of Dubai’s cityscape from its JLT vantage point. All 2-3 bedroom-apartments and Sky Villas come with private swimming pools built into the homes. Prices of a studio apartment start from Dh950,000 with an option to upgrade to Aston Martin furnished interiors.

Viewz homes comes with more than 40 facilities and amenities including a well-equipped health club and gymnasium, swimming pool, kids pool, open-air barbecue area, jogging track, tennis court, party hall, kids’ area, kids’ day care/nanny on board, electric car charging point, shallow pool, kids pool, toddlers splash pad, jacuzzi and water lounge. Unique features include a library, cigar room, Japanese garden, business centre with meeting space, doctor on call and rain showers. Residents will also have access to the range of retail, hospitality, leisure and F&B offerings spread across the two million square meter JLT district. Two skybridges will connect the two iconic towers.

“Viewz will not only re-define luxury living but will also be remembered for being the first Aston Martin furnished project in this part of the world,” Mr Rizwan Sajan, Founder and Chairman of Danube Group, said at a crowded press conference in Dubai. “It will also elevate Danube Properties as a luxury property developer in the market. The number of unique features was unheard of in luxury homes in this part of the world and makes Viewz a class apart.”

According to Savills World Research, the number of branded residence schemes globally has increased by 230 percent in the past decade. On an unweighted basis, branded residences can achieve a 29 percent premium over comparable non-branded products. Emerging markets have the highest brand premiums with an average of 44 percent above non-branded stock, and emerging markets with few branded properties can see prices that are double non-branded stock.

“Owners of homes at the Viewz will be able to benefit from high premium due to Aston Martin furnished interiors – the first such collaboration in the UAE. This will help the homeowners to fetch higher return on investment” Sajan says.

All homes at Viewz will be developed as smart homes with sustainable features. The project boasts energy-efficient automatic lights, water conservation systems, and an environmentally friendly and futuristic design with an LED lighting façade.

Danube Properties offers homeowners a 10-year Golden Visa – especially those who qualify as per the investment criteria – subject to government approval.

As one of the most successful developers in the UAE with the highest launch-to-delivery ratio, Danube Group has recently delivered Bayz, Glamz, Starz, Resortz, Elz and Lawnz while it prepares to deliver three more projects in the first half of this year.

More information on purchasing a home at Viewz can be found here: https://viewz.danubeproperties.ae/

Danube Properties has unveiled its largest real estate project, Viewz, a set of twin high-rise towers that once complete will deliver apartments and Sky Villas, with a development value exceeding $381 million.

Launched in partnership with Jumeirah Lakes Towers’ (JLT) master developer, DMCC, the project will redefine luxury living through Aston Martin furnished interior common areas and amenities.

Customers will also be able to choose Aston Martin furnished interiors for their homes. This is the first luxury residential project by Danube Properties, marking the developer’s move into the high-end real estate development market.

Ahmed Bin Sulayem, executive chairman and CEO of DMCC, said: “JLT has grown to become one of the UAE’s most popular mixed-use communities, with the district providing everything that businesses, residents and visitors need to thrive. Viewz and its Aston Martin-furnished interiors add to JLT’s credentials, so we are glad to be working with Danube Properties to bring this iconic project to the community as we continue the growth of JLT.”

What to expect?

Once complete, Viewz will deliver studios, One-bedroom apartments, Two-bedroom flats, Three-bedroom flats and Sky Villas – or duplex homes – way above the sea level giving breathtaking views of Dubai’s cityscape from it’s JLT vantage point.

All 2-3 bedroom apartments and Sky Villas come with private swimming pools built-in into the homes. Prices of a studio apartment start from $258k with an option to upgrade to Aston Martin furnished interiors.

Viewz homes come with more than 40 facilities and amenities including a well-equipped health club and gymnasium, swimming pool, kids pool, open-air barbecue area, jogging track, tennis court, party hall, kids’ area, kids’ daycare/nanny on board, electric car charging point, shallow pool, kids pool, toddlers splash pad, jacuzzi and water lounge.

Unique features include a library, cigar room, Japanese garden, business centre with meeting space, doctor on call and rain showers. Residents will also have access to the range of retail, hospitality, leisure and F&B offerings spread across the 2 million square meter JLT district. Two sky bridges will connect the two iconic towers.

Danube Properties on Friday unveiled its largest real estate project, Viewz, a set of twin high-rise towers that once complete will deliver apartments and Sky Villas, with a development value exceeding Dh1.4 billion.

Launched in partnership with Jumeirah Lakes Towers’ (JLT) master developer, DMCC, the project will feature Aston Martin furnished interior common areas and amenities. Customers will also be able to choose Aston Martin furnished interiors for their home. This is the first luxury residential project by Danube Properties, marking the developer’s move into the high-end real estate development market.

Viewz will be developed within Cluster K of the JLT district, next to Sheikh Zayed Road and the DMCC Metro station. This is Danube Properties’ first project in JLT.

Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer of DMCC, says, “JLT has grown to become one of the UAE’s most popular mixed-use communities, with the district providing everything that businesses, residents and visitors need to thrive. Viewz and its Aston Martin furnished interiors adds to JLT’s credentials, so we are glad to be working with Danube Properties to bring this iconic project to the community as we continue the growth of JLT.”

With Viewz, Danube Properties’ current development portfolio includes 21 projects and 10,021 units, with a combined sales value exceeding Dh8.15 billion. Out of the 21 projects launched, it has so far delivered 11 and will deliver 3 more projects in the first half of the year – making it one of the most successful developers in terms of delivery.

Once complete, Viewz will deliver studios, one-bedroom apartments, two-bedroom flats, three-bedroom flats and Sky Villas – or duplex homes – providing views of Dubai’s cityscape. All 2-3 bedroom-apartments and Sky Villas come with private swimming pools built into the homes. Prices of a studio apartment start from Dh950,000 with an option to upgrade to Aston Martin furnished interiors.

Viewz homes comes with more than 40 facilities and amenities including a well-equipped health club and gymnasium, swimming pool, kids pool, open-air barbecue area, jogging track, tennis court, party hall, kids’ area, kids’ day care/nanny on board, electric car charging point, shallow pool, kids pool, toddlers splash pad, jacuzzi and water lounge. Unique features include a library, cigar room, Japanese garden, business centre with meeting space, doctor on call and rain showers. Residents will also have access to the range of retail, hospitality, leisure and F&B offerings spread across the two million square meter JLT district. Two skybridges will connect the two iconic towers.

“Viewz will not only re-define luxury living but will also be remembered for being the first Aston Martin furnished project in this part of the world,” Rizwan Sajan, Founder and Chairman of Danube Group, said. “It will also elevate Danube Properties as a luxury property developer in the market.”

According to Savills World Research, the number of branded residence schemes globally has increased by 230 per cent in the past decade. On an unweighted basis, branded residences can achieve a 29 per cent premium over comparable non-branded products. Emerging markets have the highest brand premiums with an average of 44 per cent above non-branded stock, and emerging markets with few branded properties can see prices that are double non-branded stock.

“Owners of homes at the Viewz will be able to benefit from high premium due to Aston Martin furnished interiors – the first such collaboration in the UAE. This will help the homeowners to fetch higher return on investment” Sajan says.

All homes at Viewz will be developed as smart homes with sustainable features. The project boasts energy-efficient automatic lights, water conservation systems, and an environmentally friendly and futuristic design with an LED lighting façade.

Danube Properties offers homeowners a 10-year Golden Visa – especially those who qualify as per the investment criteria – subject to government approval.

Dubai real estate firm Danube Properties has unveiled plans for a new $381m tower, complete with sky villas, Aston Martin interiors, a Japanese garden and private cigar lounge.

Danube Properties says that Viewz, it’s largest project to date, will deliver apartments and sky villas with a development value exceeding AED1.4bn ($381m).

Launched in partnership with JLT master developer, DMCC, the project will feature common areas and interiors designed by luxury car maker Aston Martin.

Dubai tower to have Aston Martin interiors

Aston Martin furnished interiors will also be available in the tower’s private residences.

Viewz is the first luxury residential project by Dubai developer Danube Properties, marking the developer’s move into the high-end real estate development market.

Viewz will be developed within Cluster K of the JLT district, next to Sheikh Zayed Road and the DMCC Metro station.

This is Danube Properties’ first project in JLT.

Ahmed Bin Sulayem, CEO of DMCC, said: “JLT has grown to become one of the UAE’s most popular mixed-use communities, with the district providing everything that businesses, residents and visitors need to thrive.

“Viewz and its Aston Martin furnished interiors adds to JLT’s credentials, so we are glad to be working with Danube Properties to bring this iconic project to the community as we continue the growth of JLT.”

With Viewz, Danube Properties’ current development portfolio includes 21 projects and 10,021 units, with a combined sales value exceeding AED8.15bn ($2.2bn).

Out of the 21 projects launched, it has so far delivered 11 and will deliver three more projects in the first half of the year making it one of the most successful developers in terms of delivery.

Once complete, Viewz will deliver studios, one, two and three-bedroom apartments as well as its “sky villas” (duplex homes).

All two and three-bedroom-apartments and sky villas will include private swimming pools built into the homes.

Prices of a studio apartment start from AED950,000 ($259,000) with an option to upgrade to Aston Martin furnished interiors.

Viewz properties will have access to faclities and amenities including a health club, gymnasium, swimming pool, kids pool, open-air barbecue area, jogging track, tennis court, party hall, kids’ area, kids’ day care, electric car charging point, shallow pool, kids pool, toddlers splash pad, jacuzzi and water lounge.

Unique features include a library, cigar room, Japanese garden, business centre with meeting space, doctor on call and rain showers.

Two skybridges will connect the two towers.

“Viewz will not only re-define luxury living but will also be remembered for being the first Aston Martin furnished project in this part of the world,” Mr Rizwan Sajan, Founder and Chairman of Danube Group, said.

According to Savills World Research, the number of branded residence schemes globally has increased by 230 percent in the past decade.

“Owners of homes at the Viewz will be able to benefit from high premium due to Aston Martin furnished interiors – the first such collaboration in the UAE. This will help the homeowners to fetch higher return on investment” Sajan said.

All homes at Viewz will be developed as smart homes with sustainable features. The project boasts energy-efficient automatic lights, water conservation systems, and an environmentally friendly and futuristic design with an LED lighting façade.

Dubai’s Danube Properties offers homeowners a 10-year Golden Visa subject to government approval.

Dubai property developers are offering increasingly luxury-focussed amenities to attract buyers.

Leading real estate developer Danube Properties on Tuesday launched its latest Dh550 million second twin-tower residential project Elitz at Cityscape Dubai.

Located in Jumeirah Village Circle (JVC) opposite the Circle Mall, the developer is collecting letters of intent, and the sale is expected to begin on December 10, 2022.

Comprising of 550 units, Elitz includes 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 and chairman, Danube Group.

Studios start from Dh550,000, with one bedroom from Dh1 million and two bedrooms from Dh1.4 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 said.

Like its previous projects, the Danube chairman expects this to be sold out on the first day. “Property buyers showing interest before December 10, will get their apartment fully furnished,” he said.

The developer launched six projects this year, the highest number since its inception, and plans to launch another six next year. It has delivered 12 projects so far and two more will be delivered next year.

The developer expects to close the year with Dh2 billion in sales and expects to surpass next year.

Investor confidence in Dubai real estate remains very strong despite volatility in different parts of the world that could increase recessionary pressures elsewhere. The launch of the increased number of new real estate projects in recent months reflects growing investor confidence in Dubai’s residential property market.

This is also reflected in the increased number of real estate and land transactions across the emirate – which is way higher than the last year’s figures. The total value of 67,000 land and property sale and mortgage transactions recorded a 75.43% growth reaching AED180 billion in the first 9 months of 2022, compared to AED102.6 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.

Dubai real estate and Danube

If we look at our own activities at Danube Properties, we launched 14 projects in 7.5 years till the end of 2021. In the first 11 months of this year, we launched five new projects – a record year for us as well. Interestingly, all the first four 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.

The UAE economy last year recorded a growth of 3.8%. The International Monetary Fund (IMF), in its latest report, said, the UAE economy will record a 6% growth this year, making it one of the fastest-growing economies in the world.

“Economic growth has been robust this year, led by a strong rebound in tourism, construction, and activity related to the Dubai World Expo, as well as higher oil production in line with the OPEC+ production agreements. Overall, GDP growth is projected to reach above 6% in 2022, improving from 3.8% in 2021,” the IMF report issued on November 21, 2022, said.

“Inflation has risen with global trends and is expected to average just over 5% this year. Fiscal and external surpluses have increased further, benefiting from the higher oil prices as well as the removal of the temporary Covid-crisis-related fiscal support to businesses and households as the pandemic has gradually waned. Increased global uncertainty led to larger financial inflows, contributing to rapid real estate price growth in some segments.”

Looking ahead, the report says, the UAE economic outlook remains positive, supported by domestic activity. “We expect non-hydrocarbon growth to be around 4% in 2023 and to accelerate over the medium term with the implementation of ongoing reforms. Inflationary pressures are projected to moderate gradually, including from the impact of tightening financial conditions. Further development of domestic capital markets, including through the issuance of local currency debt by the federal government will also support growth.”

Let us look at some other factors – to understand the market dynamics. The Knowledge and Human Development Authority (KHDA) – the regulator of Dubai’s education sector, said, the enrolment in schools has increased by 4.5% to 326,001 in November, up from 302,262 in April this year. So, nearly 24,000 students joined Dubai’s 216 schools from June 2022 till November 2022 – this shows that new families have moved to Dubai.

There is a direct correlation between school enrolment and property transactions. The question one could ask: is why are more and more people moving to Dubai and the UAE – while the global economic outlook has been downgraded by both the World Bank and the IMF – due to a number of factors including the ongoing Russia-Ukraine war. However, like in all other global crises, Dubai has benefitted from these crises, as it continues to attract well-off families to the emirate due to the socio-economic and political stability, safety, security, strong global connectivity, world-class infrastructure, and good quality of life.

When there is trouble in any part of the world, wealthy people relocate to Dubai – to live, work and conduct business. So, we have reasons to be hopeful for sustainable economic growth, a strong future, and peaceful life in Dubai. The real estate market can only grow under these circumstances.

Investor confidence in Dubai’s real estate remain very strong despite volatility in different parts of the world that could increase recessionary pressures elsewhere. The launch of the increased number of new real estate projects in recent months reflect growing investor confidence in Dubai’s residential property market.

This is also reflected in the increased number of real estate and land transactions across the emirate-which is way higher that the last year’s figures. The total value of 67,000 land and property sale and mortgage transactions recorded a whopping 75.43 percent growth reaching Dh180 billion in the first 9 months of 2022, compared to Dh102.6 billion in the corresponding period last year. At this rate, the overall land and property transactions is going to create another bumper 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 Dh70 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.

If we look at our own activities at Danube Properties, we launched 14 projects in 7.5 years till the end of 2021. In the first 11 months of this year, we launched five new projects-a record year for us as well. Interestingly, all the first four projects were sold out at launch. This happened when property prices are going up even in the off-plan properties. This once again, demonstrates that there are more property buyers in the emirate this year than before.

The UAE economy last year recoded a growth of 3.8 percent. The International Monetary Fund (IMF), in its latest report said, the UAE economy will record a 6 percent growth this year, making it one of the fastest-growing economies in the world.

“Economic growth has been robust this year, led by a strong rebound in tourism, construction, and activity related to the Dubai World Expo, as well as higher oil production in line with the OPEC+ production agreements. Overall, GDP growth is projected to reach above 6 percent in 2022, improving from 3.8 percent in 2021,” the IMF report issued on November 21, 2022, said.

“Inflation has risen with global trends and is expected to average just over 5 percent this year. Fiscal and external surpluses have increased further, benefiting from the higher oil prices as well as the removal of the temporary COVID-crisis related fiscal support to businesses and households as the pandemic has gradually waned. Increased global uncertainty led to larger financial inflows, contributing to rapid real estate price growth in some segments.”

Looking ahead, the report says, the UAE economic outlook remains positive, supported by domestic activity, “We expect non-hydrocarbon growth to be around 4 percent in 2023 and to accelerate over the medium-term with the implementation of ongoing reforms. Inflationary pressures are projected to moderate gradually, including from the impact of tightening financial conditions. Further development of domestic capital markets, including through the issuance of local currency debt by the federal government will also support growth.”

Let us look at some other factors – to understand the market dynamics. The Knowledge and Human Development Authority (KHDA)-the regulator of Dubai’s education sector, said, the enrolment in schools have increased 4.5 percent to 326,001 in November, up from 302,262 in April this year. So, nearly 24,000 students joined Dubai’s 216 schools from June 2022 till November 2022-this shows that new families have moved in Dubai.

There is a direct correlation between school enrolment and property transaction. The question one could ask: why more and more people moving to Dubai and the UAE-while the global economic outlook has been downgraded by both the World Bank and the IMF-due to a number of factors including the ongoing Russia-Ukraine war. However, like in all other global crises, Dubai has benefitted from these crises, as it continues to attract well-off families to the emirate due to the socio-economic and political stability, safety, security, strong global connectivity, world-class infrastructure and the good quality life.

When there is trouble in any parts of the world, wealthy people relocate to Dubai-to live, work and conduct business. So, we have reasons to be hopeful for sustainable economic growth, a strong future and peaceful life in Dubai. Real estate market can only grow under these circumstances.

Leading real estate developer Danube Properties on Tuesday launched its latest Dh550 million second twin-tower residential project Elitz at Cityscape Dubai.

Located in Jumeirah Village Circle (JVC) opposite the Circle Mall, the developer is collecting letters of intent, and the sale is expected to begin on December 10, 2022.

Comprising of 550 units, Elitz includes 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 and chairman, Danube Group.

Studios start from Dh550,000, with one bedroom from Dh1 million and two bedrooms from Dh1.4 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 said.

Like its previous projects, the Danube chairman expects this to be sold out on the first day. “Property buyers showing interest before December 10, will get their apartment fully furnished,” he said.

The developer launched six projects this year, the highest number since its inception, and plans to launch another six next year. It has delivered 12 projects so far and two more will be delivered next year.

The developer expects to close the year with Dh2 billion in sales and expects to surpass next year.