Dubai's Danube says $233m homes sold during 2017

Developer also reveals that every property in its pipeline is sold
By Staff writer
Mon 29 Jan 2018 01:28 PM

Danube Properties, a Dubai-based property developer, has revealed that it sold new homes worth AED820 million ($233 million) in 2017.

This translates to a daily average sale of AED3.10 million and reflects the developer’s ability to sell homes despite tough market conditions, the developer said in a statement.

The company, which started journey with the launch of its first project, Dreamz, in June 2014, has launched nine residential projects with 3,150 residential units with a combined development value exceeding AED2.84 billion, it said, adding that every property it has in its pipeline is sold.

“The year 2017 has been very significant for Danube Properties as we started delivering our promises – the dream homes to our clients – in this landmark year when we sold AED820 million worth of properties,” said Atif Rahman, director and partner of Danube Properties.

“In 2017, we launched two new projects – Resortz and Bayz – together having 875 apartments with a combined development value exceeding AED750 million, all sold out."

He added: “So far, we have sold out almost all of the projects that we launched since the announcement of our first project in June 2014. We have delivered 302 residential units in Glitz Residences I and II at Dubai Studio City in 2017, while 529 more units are being readied for handover in the next few weeks.

“We also awarded five construction-related contracts with a combined value exceeding AED392 million in 2017 – a year we started delivering homes.”

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