Danube Group started life as a supplier of building materials to hundreds of projects during Dubai’s construction boom. Its founder and chairman Rizwan Sajan built up the company into the undisputed market leader for building materials in the emirate with 38 offices across the Gulf, India and China and more than 1,800 employees. His brother Anees (group managing director) and son Adel (group director) also play a pivotal role in the company today.
Branching out, Danube Group launched real estate development company Danube Properties, which is going from strength to strength. It targets the burgeoning affordable housing sector and has eight projects on the go, including three it launched last year, Glamz, Starz and Miraclz.
Three Glitz towers are under construction in Studio City and there are plans for Resortz, a neoclassical designed residential development near Miracle Gardens in Dubai.
Its first scheme, Dreamz by Danube, sold out within hours in 2014.
Sajan said he expects to record $1.5bn worth of revenues in 2016 after the company announced $1.4bn for 2015. This was a staggering 83 percent higher than in 2014 — attributed to a substantial increase in construction activity.
In 2016, the group opened three Danube Home Stores in the UAE, with another three expected to be launched in 2017. It also opened the first aluminum composite panel factory in the Middle East.
Meanwhile, Danube Properties is targeting three to four new real estate projects each year. Sajan has often spoken out in defence of Dubai’s property market in times of slowdown. In particular, he argues that it presents opportunities for first-time home buyers, as well as investors, who stand to gain high returns.
His success began in the 1990s, when he was forced to flee Kuwait amid the Iraqi invasion. He was working for his uncle but later went out alone to establish a brokerage business buying and selling building materials.
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