Danube Properties market share jumps from 5% in 2017 to 10.6% in 2018 as sale of residential units soars to Dh978 million
Dubai-based developer Danube Properties sold 1,869 units to nationals of 93 countries in 2018
Dubai, UAE, April 03, 2019
Danube Properties records 78.5% growth in sale volume of residential units to 1,869 units in 2018, up from 1,047 in 2017
In terms of value of properties sold, Danube Properties recorded 19.36% increase in sale value to Dh978 million in 2018, up from Dh820 million in 2017
Danube Properties market share rises to 10.6% of Dubai’s off-plan real estate market in 2018
Danube Properties portfolio exceeds Dh3.8 billion involving 5,019 units in 12 projects
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 value of 1,869 units increased by 19.26 percent to Dh978 million last year, compared to the sales value of 1,047 units worth Dh820 million in 2017, the report shows.
“Despite strong headwinds affecting the growth of the global economy, the UAE economy remains an oasis for growth. The end of conflicts elsewhere in the Middle East bodies well for growth in the regional economy,” Rizwan Sajan, Founder and Chairman of Danube Group, says.
“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.”
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.
The developer had 1,339 units under tendering stage and a further 17 percent in design stage – reflecting a robust property development and construction pipeline that will help the UAE’s construction sector to navigate through the current phase and way beyond the Expo 2020 global mega event.
Atif Rahman, Director and Partner of Danube Properties, said, “Danube Properties’ stellar performance reflects our firm belief in the affordable housing market. Despite challenging market conditions, we have recorded 78.5 percent growth in volumes and 19.27 percent growth in the sales transaction value.
“The market is the best regulated real estate market not just in the region but globally and it is an amazing time to do business.”
Year of Towering Performance
Atif Rahman said, 2018 has been the best year for Danube Properties so far. “Our consumer sensitive business approach is paying off. The year 2018 is a Year of Towering Performance in the history of Danube Properties.
“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. We have proven this time and again in all the 12 projects launched by Danube Properties so far.
“Danube Properties’ delivery-to-launch ratio is one of the best in the real estate development industry in the GCC and they continue 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,”
In 2018, Danube Properties increased its headcount to 220 professionals, up from 151 in 2017.
“One of the key reasons for our towering success is our workforce and we are investing heavily in our people,” he concluded.
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
Elz 275 Units Dh130 million Launched
Total 12 Projects 5,019 Units Dh3.82 billion Construction/ Delivery
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.
The company provides more than 25,000 products in stock and in-house value added services in all of its multiple set of showrooms across the Middle East region and India. The company operates from its head offices in JAFZA with logistics facilities across the region which amounts to 5.5 million square feet and includes kiln drying facility, factory and warehouses of the group.
From a small trading firm, Danube has grown into one of the largest building materials company in the region, with its diversified branches worldwide including UAE, Oman, Bahrain, Saudi Arabia, Qatar and India, in addition to procurement offices in China and Canada. Danube has a team of more than 1,800 people working across strategic locations across the GCC and India.
Among its flagship companies, Danube Home – the Home Interior Retail arm – has showrooms in major shopping malls across the region and in India. In UAE it has showrooms in Sheikh Zayed Road, Dubai Festival City, Bawadi Mall – Al Ain, Abu Dhabi and standalone outlets in RAK, Fujairah and Abu Dhabi as well. In Oman we have 5 showrooms (Salala, Nizwa, Sohar, Baraka and Al Khuwair). Danube Home has a showroom in Bahrain – Salamabad as well.