Danube forays into property sector with new unit
Dubai, June 11, 2014
Danube Group, a Dh2 billion ($545 million) annual turnover conglomerate, has announced its foray in to the UAE’s real estate sector with the launch of Danube Properties – a wholly-owned subsidiary of the country’s biggest building materials supplier.
At a press conference organised at the Grand Hyatt, Danube Properties announced its plan of making a gallant entry into the property market, and declared legendary Indian cricketer and Interim BCCI president Sunil Gavaskar as its brand ambassador.
The company also unveiled its first residential project ‘Dreamz by Danube’, which Gavaskar inaugurated at the event.
The new developer will offer luxury living at affordable price in a well regulated market that is gradually maturing and where quality, commitment and timely delivery is increasingly making a difference. Danube Properties will focus on the mid-market real estate segment.
The new property developer, that carries the legacy of Danube Group in quality and timely delivery, will initially focus on residential real estate before entering the commercial sector.
With this, Danube Properties also announces a Dh500 million project – Dreamz – a lush, green and well-landscaped neighbourhood of 175 luxury townhouses within Al Furjan community.
Size of the three- and four-bedroom townhouses will have built-up area between 2,500 and 3,000 sq ft while each townhouse will come with a garden that will accompany water features.
With prices starting at Dh2.5 million, the modern luxury villas comes with contemporary design, latest finishing from the country’s best building materials and interior supplier that guarantee quality finishing.
The launch of Danube Properties is also a reflection of the company’s commitment to the UAE market, where we are re-investing our hard-earned resources to help the real estate market expand further.” Rizwan Sajan, founder and chairman of Danube Group, said.
Construction of the project will start soon while the delivery is scheduled for 2016.
“Following the UAE’s historic win to host Expo 2020 in Dubai, the real estate sector has clearly rebounded with investors returning to the market in large scale,” Sajan said. “With property prices returning to a level that is ideal for both developers and investors, we feel the time is very appropriate for our entry in to the development activities.
“As a careful business entity, we take greater care in our business decision that has helped us to navigate through the financial crisis of 2008-09 that makes our company more resilient and sustainable in the long run. While we enter the real estate market, we remain responsible and careful in our approach and apply the same guiding principle that helps us grow even in difficult situation.”
Since its inception in 1993, Danube has played an instrumental role in sourcing the best materials from across the world to help the UAE’s construction and real estate sectors. Buildings projects are rare where Danube’s products are not visible or felt, from the small apartments to Burj Khalifa – the world’s tallest tower.
The launch of Danube Properties will help Danube Building Materials FZ-LLC to leverage its strength as the UAE’s largest building materials supplier – that also has more than 25,000 different types of building materials and interior products under one roof – in offering the widest choices of finishing that would cater to all tastes.
“As the most preferred choice for building materials and interiors supplier, we already know of the different tastes of customers in the market, which will help us to leverage our experience in to the real estate sector and pass on the benefits of our expertise to our customers,” Sajan, a non-resident Indian entrepreneur, said.
“Besides, Danube has a big name compared to many private developers. This gives enough security and assurance for buyers as we are in the same business of selling of building material and well aware of know-how of the business.
“Therefore, it is easy for Danube to start the property business. Secondly, the contractors which we have been dealing with for so long, are also known to us,” he added. – TradeArabia News Service