Dubai developer Danube Properties has announced that its latest project – the AED550 million ($150 million) Lawnz – has sold out within five weeks of its launch.
The project’s phase one, which launched on June 20, created a "massive interest" among home buyers, the company said, adding that prices started at AED290,000.
“The sell-out of the Lawnz in the hot summer months – a very quiet and low season for business – is a live demonstration of the public faith in the Danube brand,” said Rizwan Sajan, founder chairman of Danube Group.
“This is also a strong testimony of the fact that there is no shortage of buyers if the properties are offered at the right location, right price, right payment plan and the right delivery schedule.”
Lawnz, in the International City, comprises 1,032 units that raises its total portfolio to 4,744 units with a development value exceeding AED3.7 billion, spread across 11 projects.
Construction of the project is expected to start later in 2018 with completion in 2020. Amenities include a promenade, health club, swimming pool, steam and sauna room, multi-purpose hall, jogging track, barbecue deck, badminton court, multi-purpose court and an outdoor cinema.
Atif Rahman, director and partner of Danube Properties, said: “The customer response for the first phase of the project – about half of the total inventories – was amazing and overwhelming.”
Danube has delivered 831 properties so far including the handover of 302 units within Glitz Residences 1 and 2 and 358 in Glitz Residences 3 as well as 171 townhouses at Dreamz project till March 2018. It will deliver a further 870 units later this year.
Danube Properties, part of the Danube Group, entered Dubai’s real estate market in June 2014 with Dreamz at Al Furjan – which was sold out at launch.For all the latest construction news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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