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Danube Properties, a major Dubai-based property developer, announced that 300 of the 463 apartments at its latest project Jewelz has been sold out to property buyers and investors due to higher return on investment (RoI).
Danube Properties, one of the UAE’s fastest growing real estate developers, launched the Dh300 million Jewelz residential project on March 7, 2018, that offers up to 15 percent annual return on investment, depending on the size of the apartment and pricing.
Buyers of properties at Jewelz could get the keys to their apartments upon payment of around 46 percent and they could enjoy paying the balance 1 percent per month for the rest of the instalments. With rental income ranging 7-8 percent of the total value of the property per annum, the buyer’s return on investment stands at 15 percent and above, depending on the price and rent at a particular point of time.
“I am glad to announce that investors and buyers have purchased 300 apartments within a month of the project’s, due to higher investor interest in our properties that offers up to 15 percent return on investment,” Rizwan Sajan, Founder Chairman of Danube Group, said. “Higher return will continue to attract investors in to Dubai’s real estate market that witnessed Dh285 billion worth of transactions last year.
“As a developer, we are offering a much better value to our customers – property buyers and investors – that exceeds the return on investment in other asset classes including financial products, treasuries, securities, stocks and bonds. Return on investment in Danube Properties’ homes by far exceeds returns from all other asset classes and this is more secure and shariah-compliant. We encourage people to invest in our projects and multiply your future earnings.”
With the launch of its tenth project Jewelz raises Danube Properties’ total development portfolio to 3,628 residential units, worth Dh3.14 billion, of which Dh1.12 billion worth of properties involving 827 units in four projects have already been delivered.
On a Dh1 million two-bedroom apartment, the buyer could easily rent out the apartment for Dh80,000 per annum, which is equivalent to 8 percent rental income per year, when he has just paid 50 per cent of the property value, or Dh500,000. If calculated based on the amount invested on the property at that particular time, the return on investment stands at 16 per cent.
Atif Rahman, Director and Partner of Danube Properties, said, “The return on investment gets higher on studio and one-bedroom apartment where the demand is high and the rental return is also higher.
“As a developer, Danube Properties has created a solid reputation in the market with 40 percent of the project or a third of the portfolio being delivered in less than four years since we entered the property development market.
“Being in the affordable home market, we offer luxury products with luxury finishing at an affordable price that is unmatched in the market. Despite offering the property at 1 percent payment instalment per month, we deliver homes on time, even when 52 percent of the price remains unpaid!
“Through our innovative and customer-centric approach, we are currently able to offer the best value that money could buy. The investors and property buyers sees the added value we offer, which we are now taking to the Abu Dhabi market through Cityscape Abu Dhabi so that the investors from Abu Dhabi could benefit from our offerings.”
Danube Properties, part of Dubai-based diversified conglomerate Danube Group, has launched ten residential projects, of which four have been delivered, two are getting ready for delivery while four others are at various stages of construction and one in tendering stage.
The company has one of the fastest development-to-delivery ratio in the region’s real estate market where timely delivery of properties remains a major challenge. That way, Danube Properties’ performance in construction and delivery is helping strengthen buyers’ trust in real estate.
In 2017, Danube awarded five construction-related contracts with a combined value exceeding Dh392 million a year it started delivering homes. These include a Dh221 million main construction contract recently awarded to Naresco Contracting LLC 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.
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