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Thu 29 Mar 2018 01:58 PM

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Dubai's Danube delivers $95m Glitz Residences project

Project features 354 residential units - all sold following its launch in 2015, says developer

Dubai's Danube delivers $95m Glitz Residences project

Danube Properties on Thursday announced the delivery of its third project, Glitz Residences 3, at Dubai Studio City.

With a development value of AED350 million ($95.2 million), the project features 354 residential units including studio, one-bedroom and two-bedroom apartments – all sold following its launch in 2015, the developer said in a statement.

With the completion of Glitz Residences 3, Danube Properties will soon start the handover process to customers, taking the developer’s total delivery of apartments to 656 units, following the handover of Glitz Residences 1 and 2 with 302 residential units last year, it added.

The company earlier this month launched its 10th project Jewelz with 463 apartments worth AED300 million, taking its total development portfolio to 3,628 residential units, worth AED3.14 billion.

Danube Properties, which entered the real estate market in June 2014 by launching Dreamz, will also deliver 171 townhouses later this month, taking the total number of deliveries to 827 units, worth AED1.12 billion, more than a third of its portfolio value.

“The year 2018 will be a year of delivery for Danube as we are planning to deliver four projects that will take the delivery to five of the ten projects that we launched so far,” said Rizwan Sajan, founder chairman of Danube Group.

“Timely delivery is very crucial for gaining customer satisfaction as we work for our customers and they remain at the core of what we do. This year, we are delivering AED1.5 billion worth of projects – the highest in our history,” added Atif Rahman, director and partner of Danube Properties, said.