UAE: Leading UAE developer Danube Properties has announced that its AED 350 million ($95.2 million) residential project, Gemz, with 270 apartments and 30 luxury amenities in the Al Furjan community, sold out within hours of its launch.
Convertible Homes With Balcony Pools
The pyramid-shaped project offers spacious homes with convertible layouts, so a one-bedroom apartment can become a two-bedroom, and a two-bedroom a three-bedroom, the developer said.
Gemz is the third project Danube has launched and sold out since October last year, and the second within two months of its AED 300 million Pearlz project in Al Furjan, which sold in March. Every unit was snapped up by end users and brokers on the first day of the commercial sales launch at Danube's head office on Sheikh Zayed Road on June 4.
"This demonstrates the buyers' confidence in Danube Properties – as we continue to deliver promises to a growing number of UAE residents who are our biggest strength and inspiration," said Founder and Chairman Rizwan Sajan. "This is our third project launched and sold out within eight months' time – and reflects the positive market sentiment and the fact that more buyers are entering the property market."
Prices and Homes
Danube's 1 percent monthly payment plan also drove sales, giving buyers access to affordable luxury homes from AED 550,000.
| Feature | Detail |
|---|---|
| Built-up area | 530,000 sq ft |
| Plot area | 101,000 sq ft |
| Floors | 14 |
| Homes | 24 studios, 74 one-bedroom, 114 two-bedroom and 42 three-bedroom apartments, plus 16 duplexes |
"Buyers who booked and paid their initial deposit on the first day, will get their homes fully furnished on delivery, through its home furnishing and home improvement brand, Danube Home," Sajan added.
He said Danube has consistently kept its promises, delivering 11 of the 17 projects announced so far, the highest launch-to-delivery ratio, which reinforces buyer, broker and investor confidence.
"With the introduction of intelligent furnishings, Gemz encompasses large homes and floor plans with convertible layouts – a 1 one-bedroom apartment can be made into a 2-bedroom apartment and a 2-bed into a 3-bed unit. Spacious apartments at Gemz come with a swimming pool in the balcony — A luxury that's one of its kinds!" he said.
With the sell-out, Danube's development portfolio exceeds 8,272 units with a combined development value of more than AED 5.65 billion. It has delivered 4,556 units with a combined sales value of AED 3.63 billion, nearly two-thirds of the portfolio's value.
Source: Zawya
