DMCC, the Dubai free zone authority, has partnered with leading private developer Danube Properties on a new residential project in the Jumeirah Lakes Towers (JLT) district.
Project at a Glance
| Feature | Detail |
|---|---|
| Towers | Two, each 65 storeys |
| Homes | 1,200 |
| Built-up area | 1.7 million sq ft |
| Value | Approximately $545 million (AED 2 billion) |
| Location | Next to DMCC's Uptown Dubai neighbourhood |
A Second Partnership
The collaboration follows the success of Viewz, DMCC and Danube's first project together, whose two towers are fully sold.
Ahmed Bin Sulayem, Executive Chairman and CEO of DMCC, said: "Demand for premium residential property across the JLT community is higher than ever, as we have seen with the resounding success of Viewz, our first project with Danube, which is fully sold.
"Boasting a community of over 100,000 people, JLT has become one of the most popular districts in Dubai thanks to its truly complete offering for visitors, businesses, and residents. We are proud to partner with Danube for a second time as we continue to shape and drive the transformation of JLT and enhance the high-quality residential offering for our expanding community."
"As a rapidly expanding private real estate developer in the UAE, we are constantly seeking prime plots in strategic development zones. This partnership with DMCC empowers Danube Properties to enhance the appeal of our upcoming project, providing an opportunity for investors and homebuyers to capitalize on future value appreciation thanks to JLT's attractive location and the support of DMCC," added Rizwan Sajan, Founder and Chairman of Danube Group.
Driving Investment in JLT
During 2023, DMCC partnered with five developers on six commercial and residential projects across Jumeirah Lake Towers and Uptown Dubai. Its continued development of these areas supports record foreign investment into Dubai, with DMCC itself accounting for 11% of the emirate's foreign direct investment.
Source: Arabian Business
