Industry: Real estate and construction
Company: Danube Group
Designation: Founder and Chairman
Rizwan Sajan’s entrepreneurial journey began in the 1990s when he was forced to flee Kuwait following the invasion of the country by Iraqi forces. On arriving in the UAE, he started working for his uncle but quickly branched out on his own to establish a brokerage business buying and selling building materials.
This led to the establishment of Danube, the company with which he would establish his name as one of the most prominent businessmen in the country. Danube started as a supplier of building materials to hundreds of projects during the Dubai construction boom, and he built his company into the undisputed market leader in his sector, expanding to 38 offices across the Gulf as well as in India and China, and employing in excess of 1,800 employees.
From this position of strength, the group was able to diversify and seize exciting new opportunities in Dubai’s ever-lucrative real estate sector. It launched development company Danube Properties and its first scheme, Dreamz by Danube, sold out within hours of its 2014 launch. The company targets the burgeoning – and much needed – affordable housing sector in the UAE and currently has eight projects under development, including the trio it launched in 2016: Glamz, Starz and Miraclz.
In addition to this, three Glitz towers are under construction in Dubai’s Studio City and there are plans for a new development called Resortz, a neoclassical-designed residential development near Miracle Gardens.
In 2017, Danube Properties stated that 75 percent of its Bayz project in Business Bay was sold out within four months of the project’s launch. Officially breaking ground in May, the 29-storey Bayz, which is valued at $122.5m, will comprise 456 fully furnished apartment units and will be completed by 2019.
Dubai has established itself as the centre of the world and connects the west with the east. Dubai still offers the greatest growth opportunity”