News Highlights
- Studios at Lawnz start from Dh290,000.
- Danube Properties has delivered 831 homes in four projects worth Dh1.12 billion.
- The developer plans to deliver 880 more units later this year.
- Danube Properties' portfolio exceeds US$1 billion, with 4,744 units across 11 projects.
Danube Properties, a major Dubai developer, has sold 80% of Phase I of Lawnz, its Dh550 million affordable housing project, within three days of launch, with buyers queuing for tokens.
Putting End Users First
The company had turned away wholesalers seeking to buy blocks of apartments for resale, so that end users could benefit from its attractive pricing. Phase I comprises 515 homes:
| Home | Starting price |
|---|---|
| Studio | Dh290,000 |
| One-bedroom | Dh499,000 |
| Two-bedroom | Dh699,000 |
Lawnz, Danube's 11th project, comprises 1,064 units and takes its portfolio to 4,744 units worth more than Dh3.7 billion, four years after entering the market in 2014. Construction is expected to start in Q3 2018, with completion in 2020, and it is the first gated complex in International City, with state-of-the-art amenities.
What the Chairman Said
"The huge response to Lawnz reflects the fact that there is no shortage of buyers for the right quality property to be built at the right location with the right pricing and the right payment plan," said Rizwan Sajan, Founder Chairman of Danube Group. "Prices of a studio apartment at Lawnz starts at Dh290,000 – the lowest price for such a property that also comes with high-quality finishing kitchen appliances and bathroom amenities. This is unprecedented in the market.
"On top of that, our attractive and industry trend-setting 1 percent per month payment ensures the delivery of the property after payment of 51 percent – meaning that the customer could either move in to the apartment after paying 51 installments and save the rents to pay for the rest of the 49 installments.
"Or the property investor could repay the balance 49 installments from rental income – if the property is bought for investment purpose. This means that the buyer actually acquires the property after paying half the price of the property!"
About Lawnz
Lawnz offers 1,032 homes, from studios to one- and two-bedroom apartments, in International City Phase 1. Amenities include a 3.8-acre promenade with a canal, sunken plaza, fully equipped health club, swimming pool, steam and sauna, multipurpose hall, jogging track, barbecue deck, badminton court, multipurpose court and high-tech security surveillance, plus a 42-metre-wide entrance and an outdoor cinema.
What Atif Rahman Said
Atif Rahman, Director and Partner of Danube Properties, said: "Ever since we started to tune in the market of the new project, our phones continued to ring from customers and brokers trying to understand the project. We have declined many requests from large investors to snap up part of the project and had decided to open the doors for the real property buyers who have been priced out by the high price in the market.
"Hundreds of property buyers lined up at our office to get appointment to buy the apartments. I am happy to announce that Lawnz has invoked unprecedented response that strengthened our self-belief in our ability to serve Dubai's real estate market and property buyers in a bigger way. This demonstrates public trust in Danube Properties.
"Over the last four years, Danube Properties – with its customer-focused approached – has created a solid reputation in the market for delivering quality homes at affordable prices. Our customers who have moved into their dream homes offer solid testimonies of the good work put together by our team.
"Lawnz reflects our focus on community living and our strong belief in customer happiness in line with the vision of the UAE's leadership to build a happy nation.
"The strong response of our project launched in the middle of summer season and after Ramadan, reflects the fact that Danube has defied the industry trend in a low season. Lawnz proved that buyers will continue to buy homes regardless of the timing. There is no bad timing for the launch of a good project."
Delivery Record
By March 2018, Danube had delivered 831 homes, including 302 units in Glitz Residences 1 and 2, 358 in Glitz Residences 3 and 171 townhouses at Dreamz, with 870 more due later in the year. It entered the market in June 2014 with Dreamz at Al Furjan, which sold out at launch, and Danube Group, founded in 1993 and the UAE's largest supplier of building materials and home furnishings, celebrates its 25th anniversary this year.
Of Danube's 11 projects, four have been delivered, two are nearing delivery, four are under construction and one is at tender. With one of the fastest development-to-delivery ratios in a market where on-time delivery remains a challenge, Danube is strengthening buyers' trust in real estate.
Danube Project Development Fact Sheet
| Project | Residential units | Development 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 | Tender stage |
| Jewelz | 463 units | Dh300 million | Launched |
| Lawnz | 1,064 units | Dh550 million | Launched |
| Total: 11 projects | 4,744 residential units | Dh3.69 billion | Development/delivery |
About Danube Properties
Danube Properties, part of Danube Group, entered real estate in June 2014 with 171 townhouses worth Dh500 million at Al Furjan, and has since launched Glitz Residence I, II and III, Starz, Glamz, Miraclz, Resortz, Bayz, Jewelz and Lawnz. Its development portfolio comprises 4,744 units worth more than Dh3.69 billion, and it has delivered about 831 units with a combined sales value of Dh1.12 billion.
About Danube Group
Founded in 1993 and led by Founder and Chairman Rizwan Sajan, Danube Group has grown from a small trading firm into the region's leading building materials company. It recorded a turnover of Dh5.14 billion in 2015 and has kept growing, and Rizwan Sajan was ranked 12th in Forbes Middle East's "Top 100 Indian Leaders in the UAE".
It stocks more than 25,000 products with in-house value-added services across showrooms in the Middle East and India, operates from head offices in JAFZA with 5.5 million sq ft of logistics facilities, and has branches in the UAE, Oman, Bahrain, Saudi Arabia, Qatar and India, procurement offices in China and Canada, and more than 1,800 staff. Its home interiors arm, Danube Home, has showrooms in major malls across the region and in India, including on Sheikh Zayed Road, at Dubai Festival City, Bawadi Mall in Al Ain and in Abu Dhabi, standalone outlets in RAK, Fujairah and Abu Dhabi, five showrooms in Oman and one in Bahrain.
