Danube sells 75% of Business Bay project

Studio units in the 29-storey tower have been priced at Dh650,000.

dubai - 340 apartments of the 456 residential units have been sold

By Staff Report

Published: Tue 12 Sep 2017, 9:03 PM

Last updated: Tue 12 Sep 2017, 11:05 PM

Danube Properties, which launched eight projects in three years with a combined development value exceeding Dh3 billion, announced that it has sold 75 per cent of its Bayz project at Business Bay within four months of the project's launch.
Bayz was launched on May 14, 2017, during Ramadan.

"We have sold out 340 apartments of the 456 residential units of Bayz within four months of the project's launch," Rizwan Sajan, founder chairman of Danube Group and Danube Properties, said on the sidelines of Cityscape Global.

"Selling 75 per cent of a project during Ramadan and summer holidays is not an easy matter and it reflects the appeal of the one per cent monthly payment scheme to end-users - who can now look forward to buying a property in Dubai with their limited monthly household income.

Studio units in the 29-storey tower have been priced at Dh650,000 and comes with a monthly payment plan of Dh6,490. Construction of the project - which is at tendering stage - is scheduled for completion in 2019. The Bayz apartments come fully furnished.

The announcement comes less than a month after the developer completed Glitz I and Glitz II with a combined development value of Dh350 million within two years of the sales launch. Owners of all the 302 sold-out units will soon start taking deliveries of their units.

- business@khaleejtimes.com