Developer to hand over 821 units and launch new projects worth $273 million this year
Developer Danube Properties says 95% of its recently launched Miraclz project in Dubai has been sold.
The announcement was made by Rizwan Sajan, founder and chairman, Danube Group, at an event attended by actress Sushmita Sen, the company’s brand ambassador.
Ongoing projects in the Danube Properties portfolio include Dreamz, Glitz 1, 2 and 3, Starz, Glamz, and Miraclz.
Dreamz is scheduled for handover in March 2017; around 75% of construction work has been completed for Glitz 1 and 2 with a tentative handover scheduled for Q2 and a third of the work is completed for Glitz 3. Bin Shafar Contracting has been appointed the main contractor for Glitz and Starz projects.
Danube Properties will hand over 821 units and launch new projects worth $273 million in 2017. The total book value of Danube Properties is currently around $600 million.
“I take great pleasure in announcing that our seventh project is almost sold out and the construction is progressing very well. Today the ‘Stop Renting and Start Owning’ trend has grown immensely and we are proud to be the pioneers in affordable housing,” said Sajan.
The $109 million ‘Miraclz’ tower is located at Dubai’s Arjaan neighborhood close to Miracle Gardens. Miraclz offers a selection of 591 apartment units ranging from studio to two bedroom apartments, where each home is fully furnished and equipped with modular furniture.