Dubai's Danube completes Starz, Glamz residential projects

Dubai developer says planning handover of 880 homes in Starz and Glamz projects
Dubai's Danube completes Starz, Glamz residential projects
Glamz was launched by Danube in 2016 and sold out the same year.
By Sam Bridge
Fri 10 May 2019 10:01 AM

Danube Properties has announced the completion of 454 units in Starz and pre-completion of 426 residences in Glamz, its fifth and sixth residential projects in Dubai.

Both the projects were launched and sold out in 2016 and once the planned handover of 880 units are completed, Danube Properties will have delivered 1,711 residential units, worth AED1.69 billion since it launched its maiden project, Dreamz, in June 2014.

The 880 homes come with lifestyle amenities, including gymnasium, health club, swimming pool, community areas and car parking, the developer said in a statement.

“As we move closer to the Expo 2020, we see renewed confidence in the UAE real estate market. The complete sell-out of our projects reflect a strong investor confidence in not only the Dubai real estate market, but also in Danube Properties,” said Rizwan Sajan, founder and chairman of Danube Group.

“We are a firm believer in the long-term sustainable development of real estate projects and there is no better market than the UAE, especially Dubai," he said.

“Despite some negative perceptions about the market, I am happy to announce that all our properties have been well received by buyers and are sold out. As the market matures, we see good opportunities in the market in which developers with long-term commitment will do well,” he added

Last year Danube Properties said it saw a 78.5 percent jump in sales of residential units which boosted its market share in off-plan sales to 10.6 percent.

The company last year sold a total of 1,869 residential units, according to its annual report.

Danube Properties has so far awarded AED1.6 billion worth of construction contracts involving 10 of the 12 projects launched so far. In 2018, Danube completed construction of 358 residential units while it awarded construction contracts for 926 units.

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