Danube's 2017 sales revenue hits $233m

UAE-based Danube Properties said 2017 was a significant year for the company as it launched two new housing projects in Dubai and also completed sales of new homes worth Dh820 million ($233 million) during the year. This translates to a daily average sale of Dh3.1 million per working day throughout the year and reflects the developer’s ability to sell homes despite tough market conditions as Danube gains investors’ trust due to strong commitment, timely delivery of projects and excellent quality of finish supplied with world class amenities, said the company in a statement. Danube, which entered the real estate sector with the launch of its debut project, Dreamz, in 2014, has till date launched nine residential projects offering 3,150 residential units with a combined development value of over Dh2.84 billion, it added. Atif Rahman, the director and partner of Danube Properties, said: "Last year has been very significant for Danube Properties as we started delivering our promises – the dream homes to our clients – in this landmark year when we sold Dh820 million worth of properties." "In 2017, we launched two new projects – Resortz and Bayz – together having 875 apartments with a combined development value exceeding Dh750 million, all sold out," noted Rahman. He pointed out that the company has delivered 302 residential units in Glitz Residences I and II at Dubai Studio City in 2017, while 529 more units are being readied for handover in the next few weeks. "We also awarded five construction-related contracts with a combined value exceeding Dh392 million in 2017 – a year we started delivering homes," remarked Rahman. These include a Dh221 million main construction contract recently awarded to Naresco Contracting to deliver Miraclz Tower near Miracle Gardens at Arjan that will host 599 units including 591 apartments. The 28-month contract will see the project delivered by the end of 2019. The Emirati developer has also awarded a Dh146-million contract for the main construction package for the Resortz project to Dubai Walls Construction. Recently Danube Properties has awarded a Dh11 million piling and shoring contract for its latest project – Bayz at Business Bay as well. “So, as it stands, we do not have any unsold projects now. All our announced projects are sold out and remains either in the process of delivery or construction – that reflects our strong commitment to the property buyers,” remarked Rahman. "As a developer, we launch a project once the previous project is sold out and it helps us to clearly focus on sale and project construction for each of the projects. Once we close the sale, we then put the project on tender and construction starts as the buyers keep making payments as per agreed payment schedule," he noted. "This process helps us to complete each stage of the project – from concept, design, secure permission, sale and marketing, tendering, construction, completion, payment and delivery to complete the life cycle of the project,"