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Danube Properties on Monday launched its latest residential project \u2013 a Dh300 million development...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-402","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-6u","jetpack-related-posts":[{"id":11876,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/danube-launches-sixth-affordable-housing-project-in-dubai\/","url_meta":{"origin":402,"position":0},"title":"Danube launches sixth affordable housing project in Dubai","date":"May 3, 2016","format":false,"excerpt":"\r Danube Properties has announced its sixth affordable housing project in Dubai \u2014 the Dh300 million Glamz Danube tower containing 418 units.The development, which is split between two blocks on top of a podium containing ground floor retail units and parking, will be built on a plot next to its\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":12140,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/danube-focus-on-affordable-homes-boosts-sales-and-turnover\/","url_meta":{"origin":402,"position":1},"title":"Danube focus on affordable homes boosts sales and turnover","date":"May 8, 2016","format":false,"excerpt":"\r Danube Group reported an 83 per cent increase in turnover last year to Dh5.1 billion, partly buoyed by property sales.The Dubai-based group's founder and chairman, Rizwan Sajan, attributed the growth of the company to the success of Danube Properties - the affordable homes development arm of the business that\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":215,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/danube-launches-affordable-housing-project-in-dubai\/","url_meta":{"origin":402,"position":2},"title":"Danube launches affordable housing project in Dubai","date":"December 30, 2015","format":false,"excerpt":"\r The 452 apartments development in Al Furjan will allow homeowners to turn \"one room into two\" using Danube's design technology\r \r Source : arabianbusiness.com\r Read more...Danube launches affordable housing project in Dubai","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":48033,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/danube-chief-shrugs-off-concerns-over-dubai-residential-property-oversupply\/","url_meta":{"origin":402,"position":3},"title":"Danube chief shrugs off concerns over Dubai residential property oversupply","date":"March 15, 2017","format":false,"excerpt":"\r The founder of Danube Properties, Rizwan Sajan, shrugged off concerns about overcapacity in Dubai's residential property market after the launch of its eighth project, the Dh300 million Resortz development.Mr Sajan said that although there were developers who were struggling to sell inventory, he is confident that all of the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":15844,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/danube-properties-sells-out-dh300m-glamz-project-in-dubai\/","url_meta":{"origin":402,"position":4},"title":"Danube Properties sells out Dh300m Glamz project in Dubai","date":"June 8, 2016","format":false,"excerpt":"\r Danube Properties has sold out its two-tower, Dh300 million Glamz project in Al Furjan just over a month after its launch.The company said that following the sale of all 418 apartments at the project it had sold out its entire stock on the six projects launched to date, which\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":3448,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/affordable-dubai-homes-will-keep-residents-in-uae-for-longer-says-expert\/","url_meta":{"origin":402,"position":5},"title":"Affordable Dubai homes will keep residents in UAE for longer, says expert","date":"February 3, 2016","format":false,"excerpt":"\r \r New homes aimed at the affordable end of Dubai's property market are widening the pool of potential buyers, making it \"a good time to invest\" despite falling prices, according to one expert.Speaking at the launch for this year's International Property Show, Land Sterling's managing partner Abdul Basset Betraoui\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/402"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=402"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/402\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=402"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=402"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=402"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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\nDanube Properties on Monday launched its latest residential project \u2013 a Dh300 million development in the Al Furjan area of Dubai near Discovery Gardens \u2013 targeted at the affordable segment.The 450-unit Ritz development is Danube\u2019s fifth project following the unveiling of the 171-town house Dreamz in Al Furjan, the 292-unit Glitz 1, the 292-unit Glitz 2, and 352-unit Glitz 3 in Studio City. The launch brings the total value of its portfolio to date to Dh1.5 billion.
\nThe property developer, which is part of the building materials business Danube Group, is unperturbed by the slowdown in the property market.\u201cThe majority of the slowdown is in the luxury apartment [segment],\u201d said Rizwan Sajan, the founder and chairman of Danube Group. \u201cI don\u2019t think property prices in the affordable section can go down more than this.\u201dDubai residential property prices softened this year. Average prices fell by a further 4 per cent in the final quarter, meaning that apartments were 16 per cent cheaper than a year ago and villa prices were 14 per cent cheaper, according to the broker CBRE.
\nNearly a third of all the homes expected to be completed in Dubai this year are yet to be handed over to buyers, CBRE said.Poor market conditions and construction delays have been blamed for the situation as brokers slashed their estimates for completions.CBRE said the delay in handovers meant that it has had to revise down its forecast, made at the start of the year, for the number of new homes to be completed in the city this year from 20,000 to 14,000.
\nMr Sajan said the current supply of homes in Dubai is not enough to meet future demand from an increase in population, which he said will go up by 1 million people in the next five years from the current 2.4 million.\u201cReal estate is a long-term business and I am a firm believer of the long-term sustainability of Dubai\u2019s economy, which is very resilient,\u201d said Mr Sajan. \u201cBesides, a moderate approach to Dubai\u2019s economic and demographic expansion shows that the emirate will need 18,000 new homes per year for the next five years to accommodate the 1 million consumers, all of whom will need accommodation.\u201d
\nDanube is selling a fully furnished studio at Ritz, starting at Dh430,000, a fully furnished one-bedroom from Dh750,000 and a fully furnished two bedroom from Dh990,000.dalsaadi@thenational.aeFollow The National\u2019s Business section on Twitter
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\nSource : thenational.ae
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