Construction

Danube Properties launches new masterplanned residential project

Project will be located close to International City and Dragon Mart

Danube Properties has announced Olivz, a $108m masterplanned cluster of residential buildings. The project is to be developed in Al Warsan, Dubai and will comprise 741 residential units, as well as retail and recreational facilities.

The developer is billing the homes as affordable and states that homes can be acquired with its 1% payment plan, which is designed to help middle income tenants and end-users acquire homes.

Olivz will be developed on an 18,016sqm plot of land at Al Warsan First, close to International City and is said to offers easy access to Mohammed Bin Zayed Highway.

“This marks the first real estate project launch of 2020 in the UAE and reflects Danube Properties’ confidence in the market that is witnessing a slow upturn as the countdown to the World Expo 2020 – that is expected to drive the demand for new homes – gains momentum,” said Rizwan Sajan, founder and chairman of Danube Properties.

With the launch of Olivz, Danube Properties’ portfolio is said to now stand at 6,194 units, with a combined development value exceeding $1.2bn. The developer states it has delivered about 2,155 units, with a combined sales value of $570m.

“The launch of Olivz reflects our growing confidence in Dubai’s real estate market, which never ceases to amaze investors. The launch is timed well to meet the needs of the growing number of end-users who are now more confident to buy their dream homes,” added Sajan.

Each residential building will be positioned facing landscaped gardens, and will include amenities such as a swimming pool, jacuzzi, sunken seating surrounded by water bodies, water canal, play courts, kid’s play area and a BBQ area. The project will also offer family-focused leisure facilities along with a gymnasium, health club, jogging track and a party hall with outdoor deck.

Atif Rahman, director and partner at Danube Properties remarked, “Olivz is another project which will reflect our commitment to design and deliver a happy community. Its driven with the intention of creating a superior lifestyle for the mid-market segment at extremely affordable prices. We have exerted immense efforts in ensuring that people will enjoy their life at Olivz once it is delivered. The location of the project is extremely attractive with super convenient entry and exit from Mohammed Bin Zayed Road without getting stuck in any kind of traffic bottleneck.”

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