Danube Properties awards main construction contract for the Dh450 m Bayz to RAQ Contracting

Danube Properties awards main construction contract for the Dh450 m Bayz to RAQ Contracting

Dubai-based developer Danube Properties appoints RAQ Contracting LLC to build the Dh450 million Bayz project in Business Bay, raising the total value of its construction contracts to Dh1.59 billion

Dubai, UAE, December 12, 2018

News Highlights

 

  1. Danube awards Dh190 million contract to RAQ Contracting to build the Bayz project
  2. The combined value of Danube Properties construction contracts exceeds Dh1.59 billion
  3. Danube Properties delivered 831 residential units worth Dh1.12 billion including 171 townhouses within Dreamz project worth Dh500 million by March 2018
  4. Danube Properties portfolio exceeds Dh3.74 billion involving 4,744 units in 11 projects

 

Dubai, UAE: Danube Properties has awarded a Dh190 million contract to RAQ Construction LLC, a Dubai-based civil construction company, for the main construction works of Bayz located at a site in Business Bay overlooking Al Khail Road.

 

The Dh450 million Bayz project offers 456 fully-furnished apartments, ranging from studio, one and two-bedroom apartments. The project is attractively located on a plot on Al Khail Road – a major highway in Dubai – located within close proximity to Burj Khalifa, the world’s tallest tower.

Danube Properties Sheikh Zayed Road, P.O. Box 113806, Dubai UAE Tel: + 971 4 312 2700

Fax: + 971 4 399 8222 Email: pa@danubeproperties.ae Web: www.danubeproperties.ae

The 29-storeyed project, launched in May 2017, is scheduled for delivery in 2021. This is Danube’s only project in Business Bay. The project has already been sold out to buyers and investors.

“We have so far awarded contracts for ten out of 11 projects launched so far. The awarding of the construction contract reflects our determination to deliver projects on time. It also strengthens our reputation as a developer that is committed to on-time construction and delivery,” Rizwan Sajan, Founder and Chairman, of the Danube Group, says.

 

“Of the 11 projects launched in just over four years, Danube Properties has delivered four of them to customers. This shows our customer-centric development approach.”

 

At launch, Danube Properties offered the lowest price in the Business Bay area and continued with its famous 1 per cent payment plan, starting at Dh6,490 per month.

 

The Bayz tower comes with amenities including swimming pool, health club and a kid’s play area cum party hall. When delivered, each fully-furnished apartment will be accompanied with a modular kitchen, exquisite Spanish tiles, and top-notch finishes. Furthermore, every home will include a European technology enabled convertible sofa that makes way for a bed- tucked into the wall.

 

Atif Rahman, Director and Partner of Danube Properties, said, “The latest construction contract raises our construction contract value to Dh1.59 billion across ten projects and reflects the character and reputation of Danube Properties. Our delivery-to-launch ratio is one of the best in the real estate development industry in the GCC and I would want to maintain that.

 

“With a solid construction and delivery record, Danube Properties has helped strengthen customer and investor confidence and their faith in the real estate sector of the UAE and Dubai. After careful evaluation of all tender bids, I decided to appoint RAQ Contracting LLC to carry out the construction of Bayz – our key project in Business Bay.”

 

“As a quality-conscious developer, we are very selective in choosing the contractor to deliver customers’ dream home. In this endeavour the contractor becomes a key stakeholder and I ensure selection of the best available partner to deliver nothing less than the best.

 

“I am extremely pleased with all our ongoing projects and the construction progress. I am very confident that our partnership with RAQ Contracting will set a new benchmark of construction quality.”

 

Rami Al Qaisi, Managing Director of RAQ Construction LLC, said: “We are very pleased to partner with Danube Properties in developing Bayz Tower. As a developer, Danube Properties is very particular in every aspect of construction activities including choice of material, quality of construction, finishing, facilities, amenities and timely delivery. We have gone through one of the most stringent contracting process and I am pleased to say, we have a shared vision in Bayz – to offer the best homes to the customers.”

 

Danube Properties Sheikh Zayed Road, P.O. Box 113806, Dubai UAE Tel: + 971 4 312 2700

Fax: + 971 4 399 8222 Email: pa@danubeproperties.ae Web: www.danubeproperties.ae

 

RAQ is a pre-designed, design and build and steel-structure turnkey main contractor specializing in executing construction projects of various categories. Established in 2013 as a main contracting company, RAQ Contracting is deemed to be engaged in diverse commercial, residential, recreational and other projects.

RAQ Contracting has so far delivered 25 projects and has more than 700 people on its payroll.

 

Danube Project Development Fact-Sheet

 

Danube Projects Residential Units Sales Value Status
Dreamz 171 Townhouses Dh500 million Delivered
Glitz Residence I 151 Units Dh135 million Delivered
Glitz Residence II 151 Units Dh135 million Delivered
Glitz Residence III 358 Units Dh350 million Delivered
Starz Tower 454 Units Dh300 million Delivery in 2018
Glamz Residence 426 Units Dh270 million Delivery in 2018
Miraclz Tower 599 Units Dh400 million Under Construction
Resortz Tower 444 Units Dh300 million Under Construction
Bayz 463 Units Dh450 million Tendering Stage
Jewelz 463 Units Dh300 million Launched
Lawnz 1,064 Units Dh550 million Launched
Total 11 Projects 4,744 Units Dh3.69 billion Construction/ Delivery

 

Editor’s Note

About Danube Properties

 

Danube Properties, part of the Danube Group, made its foray in to the real estate market in June 2014, by launching the Dh500 million 171 townhouses at Al Furjan. Since then, it continued to expand its development portfolio by launching Glitz Residence I, II, III, Starz, Glamz, Miraclz, Resortz, Bayz, Jewelz and Lawnz projects.

 

The company currently has a development portfolio of 3,680 units, with a combined value exceeding Dh3.14 billion. It is delivering about 830 units in 2017-18, with a combined sales value of Dh1 billion – or a third of its portfolio value.

 

About Danube Group

 

Established in the year 1993, Danube Group was founded and cultivated under the leadership of Rizwan Sajan, who is the known to be the Founder and Chairman of the Group. Starting off as a small trading firm, the company is moving from strength-to-strength, expanding its foothold in the region, and has established itself as the No. 1 building Materials Company along with other branches under its vast umbrella.

 

In 2015, the company recorded a turnover of Dh5.14 billion and has been growing ever since. Moreover, Rizwan Sajan was ranked 12th among the ‘Top 100 Indian leaders in the UAE’ List by Forbes Middle East.

 

Danube Properties Sheikh Zayed Road, P.O. Box 113806, Dubai UAE Tel: + 971 4 312 2700

Fax: + 971 4 399 8222 Email: pa@danubeproperties.ae Web: www.danubeproperties.ae

 

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