At least one new property project and more Danube Home stores are in the pipeline for 2019, Sajan tells Construction Week.
Danube Properties, the real estate arm of Danube Group, will focus on Dubai this year, launching at least one new project in the coming months, says founder and chairman Rizwan Sajan.
A New Project in Spring 2019
The project will be unveiled in March or April 2019 and will be similar in size and scale to the $149m (AED 550m) Lawnz development launched in June 2018. The unnamed community will feature a swimming pool, gym, running track, cinema room and shops.
Speaking to Construction Week deputy editor Oscar Rousseau on the Construction Week Viewpoint podcast, Sajan said Danube was "very close" to acquiring the right plot for its next project.
Asked whether it would be Danube's only new project in 2019, Sajan said: "Our formula is very simple – once we launch a project, it should be sold at least by at least 75-80% [before] we put it to under construction, and only then do we move on to a new project. Am going to launch any other new projects? Yes, I will launch a new a new project, but only if I sell this one by 75-80%."
More Danube Home Stores
Sajan said the group will also create new jobs in 2019 as it opens more Danube Home stores across the GCC.
Construction Week Viewpoint is a weekly podcast featuring business experts and commentators discussing construction, real estate development and related sectors in the Middle East.
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