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Danube to name contractor for Dh300 million new project

The UAE-based affordable housing pioneer, Danube Properties, which is showcasing progress on its six projects at the Cityscape Global 2016, said it expects to complete projects ahead of the scheduled handover date.
The firm announced that it is currently evaluating bids for their fifth project called the 'Starz', located in Dubai's Al Fujran neighborhood. The evaluation process will be completed by the end of September, further to which Danube will announce the main contractor for its Dh300 million project.
Starz offers a total of 446 units of Studio, 1 and 2 bedroom fully furnished apartments with an array of amenities.
Rizwan Sajan, founder and chairman of Danube Group, said with real estate prices remaining at the lowest level, there would not be a better time to own affordable houses in the UAE.
With forecasts indicating a pick up in property sector next year, current prices as the most affordable, said Sajan, who had blazed a new trail in affordable housing sector with a string of projects over the past few years.
"Cityscape has always served as the perfect platform for anyone in the property world. This year, I am extremely happy to announce the progress on all my projects. My team has demonstrated immense dedication and has been taking Danube Properties from strength-to-strength. Our vision is to complete quality construction well before the handover date and we are working hard to make this happen," said Sajan.
Work on the Glitz 1 and 2 is currently progressing four months ahead of schedule and is standing 62 per cent complete. Moreover, excavation at the Glitz 3 project site is slated to begin soon. Danube's first project 'Dreamz' is close to completion and will be handed over in the near future.
Sajan said Danube's all projects have been enjoying success since their launch thanks to their affordable prices and flexible payment plan, combined with the development's convenient location. All projects feature ultra-modern facilities for 21st century living, which are proving very appealing to buyers.
He said Danube Properties currently has a book value of Dh1.5 billion worth of projects with over 1.7 million sqft under construction.
- issacjohn@khaleejtimes.com