{"id":48033,"date":"2017-03-15T00:45:22","date_gmt":"2017-03-14T17:45:22","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/?p=48033"},"modified":"2017-03-14T22:00:37","modified_gmt":"2017-03-14T15:00:37","slug":"danube-chief-shrugs-off-concerns-over-dubai-residential-property-oversupply","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/danube-chief-shrugs-off-concerns-over-dubai-residential-property-oversupply\/","title":{"rendered":"Danube chief shrugs off concerns over Dubai residential property oversupply"},"content":{"rendered":"


\nThe 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 444 units (including retail) it is building at Resortz, which is based at Arjan near Miracle Gardens, would be sold within weeks.”Hopefully, it is going to be sold out in a month,” he said.”Every market, there are two sides of the coin. On the one side, you will see in Dubai also there are some people who are crying – profit is not good, this or that is not happening. On the other side, you will see a lot of people are flourishing “It depends on how you perceive the market. If you talk to most of the developers, they will say the market is cold and they are not able to sell. You look at it as Danube, we are.”Danube Properties launched 1,274 units onto the market last year, with a combined development value of about Dh1bn. It also awarded Dh521m worth of construction contracts.Mr Sajan said that he anticipates a 25 per cent to 30 per cent increase this year in the combined value of projects launched to between Dh1.2bn and Dh1.3bn.He said that he was confident of a quick turnaround for Resortz partly because of its make-up – 305 of the 419 apartments are studios, which are most popular with investors due to the lower ticket price. Of the remainder, 54 are one-bed units, 56 are two-beds and there are four, three-bedroom apartments. There are also 25 retail units available at the site, which will consist of three, ground-plus-four storey blocks on a four-acre site. The company anticipates selling studios for Dh450,000 to Dh500,000, one-beds from Dh800,000 and two-bed apartments from Dh1.1m to Dh1.2m.Atif Rahman, the managing director of Danube Properties, said that Danube is now close to handing over its first project, Dreamz by Danube, which was launched in June 2014.”Quarter two will see the handover of our second and third projects, Glitz 1 and Glitz 2, followed by our next project, Glitz 3, in quarter three this year. So it’s going to be a landmark year with a lot of handovers,” he said.He added that of the projects launched last year, preliminary works have taken place on both Starz and Glamz, and concrete pours for each building’s foundations are likely to take place this month and next month respectively.Mr Sajan said that tenders had been issued for its seventh project, the 600-unit Miraclz development, and that a contract award was likely within the next four months. Following this, it will issue tenders for Resortz.Danube Properties has already acquired a site for its next project, which is likely to launch in April.”In the summer, we should be able to pick up a couple of more plots,” said Mr Sajan.mfahy@thenational.ae
\n
\nSource : thenational.ae
\nRead more…Danube chief shrugs off concerns over Dubai residential property oversupply<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The founder of Danube Properties, Rizwan Sajan, shrugged off concerns about overcapacity in Dubai’s residential...<\/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-48033","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-cuJ","jetpack-related-posts":[{"id":12140,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/danube-focus-on-affordable-homes-boosts-sales-and-turnover\/","url_meta":{"origin":48033,"position":0},"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":402,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/danube-properties-launches-affordable-homes-project-in-dubai\/","url_meta":{"origin":48033,"position":1},"title":"Danube Properties launches affordable homes project in Dubai","date":"December 28, 2015","format":false,"excerpt":"\r \r Danube 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,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":3603,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/danube-properties-says-85-of-82m-ritz-dubai-sold\/","url_meta":{"origin":48033,"position":2},"title":"Danube Properties says 85% of $82m Ritz Dubai sold","date":"February 3, 2016","format":false,"excerpt":"\r Ritz's sale has 'defied' the market trend, group chairman Rizwan Sajan says\r \r Source : arabianbusiness.com\r Read more...Danube Properties says 85% of m Ritz Dubai sold","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":48033,"position":3},"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":58336,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/material-man-how-danubes-rizwan-sajan-is-mastering-dubais-property-market\/","url_meta":{"origin":48033,"position":4},"title":"Material man: How Danube's Rizwan Sajan is mastering Dubai's property market","date":"June 18, 2017","format":false,"excerpt":"\r After decades of success in the region\u2019s construction and interiors market, Indian billionaire Rizwan Sajan, founder and chairman of Danube Group, is on a mission to take the Dubai property market by storm.\r \r Source : arabianbusiness.com\r Read more...Material man: How Danube's Rizwan Sajan is mastering Dubai's property market","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":11876,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/danube-launches-sixth-affordable-housing-project-in-dubai\/","url_meta":{"origin":48033,"position":5},"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":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/48033"}],"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=48033"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/48033\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=48033"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=48033"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=48033"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}