Danube Properties launched Elitz 3 on Saturday, with a development value of more than Dh800 million. Located in Jumeirah Village Circle (JVC), it sits in the same area as the Elitz and Elitz 2 towers, which are under construction.
The Project
| Feature | Detail |
|---|---|
| Towers | Twin towers of 40 and 46 floors |
| Homes | 750 studios and 1-, 2- and 3-bedroom apartments, plus a few shops |
| Completion | Q4 2026 |
| Starting price | Dh699,000 for a studio |
| Amenities | More than 40, including a health club, pools, sports arena, tennis court, barbecue area and jogging track |
Elitz 3 is Danube's 24th residential project and the ninth tower launched in 18 months. It brings the developer's portfolio to 11,529 units across 24 projects, with a combined development value of more than Dh10 billion.
Why Now
"Dubai's real estate market continues to defy global economic slowdown due to its dynamism and attractiveness and we see sustained growth soon, which reinforces our firm belief in the market. This is what has encouraged us to launch Elitz 3 within just a month after launching Elitz 2 at the Jumeirah Village Circle," said Rizwan Sajan, Founder and Chairman of Danube Group.
"The launch of the Elitz 3 comes after Dubai's real estate market has seen an unprecedented surge in the number of real estate transactions reaching 60,440 worth Dh177.3 billion being recorded during the first half of the year. The value of real estate sales recorded in the first six months of the year exceeds the annual sales value recorded each year in Dubai from 2009 to 2021. Real estate is currently the biggest driver of Dubai's economy that is attracting a large pool of domestic and foreign investment," Sajan said.
Move In Halfway Through the Plan
Elitz 3 comes with the trend-setting 1 per cent monthly payment scheme after the initial deposit. "Our trend-setting 1 per cent monthly payment scheme is helping more and more tenants to buy property and enjoy living in their own homes which has increased the number of freehold homeowners in the UAE," said Sajan.
Danube said its homes are usually delivered around halfway through the payment plan, so buyers can move in after paying 65% of the price. Owners can then save on rent or cover their monthly instalments (EMI) from rental income.
A Disciplined Developer
The developer launches one project at a time, sells it out and appoints a contractor before launching the next. It has delivered 11 projects, with the rest under construction, and will deliver three towers this year: Wavez, Jewelz and Olivz. Most projects launched in 2022 and 2023 are ahead of schedule. Danube also recently signed an agreement with the Dubai Land Department to issue buyers an Initial Sale Contract (Oqood) almost instantly.
