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Danube chief vows to launch 'two to three' projects annually

Rizwan Sajan said he will focus on $270m to $400m projects in Dubai residential and affordable housing segments
Rizwan Sajan, chairman of Danube Group.
By Neha Bhatia
Thu 25 Feb 2016 10:44 AM

The founder and chairman of a UAE-based construction firm has said he plans to launch "two to three" property projects each year.

Rizwan Sajan, chairman of Danube Group, also said his focus for the foreseeable future will remain on Dubai's residential and affordable housing segments.

“So long as the market has demand, we will continue to launch two to three projects worth around AED1bn-AED1.5bn ($272.2m-$408.4m) each year," he said.

The company's property development arm, Danube Properties, has launched the Dreamz, Glitz, and Ritz projects in Dubai so far.

All three projects focus on the Emirate's upcoming affordable housing sector.

“I don’t want to be too aggressive, but tell me, how many private developers today are creating affordable developments?" he said, stressing that while developers such as Dubai Properties and TECOM are developing non-luxury units, they are mostly state-owned firms.

“Companies like ETA and Al Fara’a were involved in the segment earlier, but as of now, we have no real competitors.

"We want to [ensure] Danube is synonymous with affordable housing with good quality and timely construction,” he added.

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Last Updated: Thu 26 Jan 2017 01:27 PM GST

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