Arab Today, arab today danube properties launches affordable homes project in dubai
Last Updated : GMT 02:33:04
Arab Today, arab today
Arab Today, arab today

Danube Properties launches affordable homes project in Dubai

Arab Today, arab today

Arab Today, arab today Danube Properties launches affordable homes project in Dubai

Danube Properties
Dubai - Arab Today

Danube Properties on Monday launched its latest residential project – a Dh300 million development in the Al Furjan area of Dubai near Discovery Gardens – targeted at the affordable segment.

The 450-unit Ritz development is Danube's 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.

The property developer, which is part of the building materials business Danube Group, is unperturbed by the slowdown in the property market.

"The majority of the slowdown is in the luxury apartment [segment],” said Rizwan Sajan, the founder and chairman of Danube Group. "I don't think property prices in the affordable section can go down more than this.”

Dubai 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.

Nearly 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.

Mr 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.

"Real estate is a long-term business and I am a firm believer of the long-term sustainability of Dubai's economy, which is very resilient,” said Mr Sajan. "Besides, a moderate approach to Dubai's 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.”

Danube 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.

Source: The National

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today danube properties launches affordable homes project in dubai Arab Today, arab today danube properties launches affordable homes project in dubai

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today danube properties launches affordable homes project in dubai Arab Today, arab today danube properties launches affordable homes project in dubai

 



Arab Today, arab today
Arab Today, arab today Designer Aql Faqih aspires to innovation

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation
Arab Today, arab today What's the reason and what you can do

GMT 05:44 2017 Sunday ,22 October

What's the reason and what you can do
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Syrian children die of hunger

GMT 19:25 2017 Sunday ,22 October

Syrian children die of hunger
Arab Today, arab today Hiring not part of Alibaba pledge

GMT 11:26 2017 Wednesday ,18 October

Hiring not part of Alibaba pledge
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today World's deepest lake in peril

GMT 15:54 2017 Friday ,20 October

World's deepest lake in peril
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Delhi braces for pollution 'airpocalypse'

GMT 16:07 2017 Friday ,20 October

Delhi braces for pollution 'airpocalypse'
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today EU raids automaker BMW

GMT 11:06 2017 Saturday ,21 October

EU raids automaker BMW
Arab Today, arab today Sweden to get biggest car factory

GMT 14:10 2017 Friday ,20 October

Sweden to get biggest car factory
Arab Today, arab today Actress Mona Zaki praises husband’s role

GMT 08:15 2017 Thursday ,19 October

Actress Mona Zaki praises husband’s role
Arab Today, arab today Massacre fears spark race

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race

GMT 08:57 2017 Wednesday ,18 October

Actress Shery Adel happy for Egypt’s qualification

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 10:18 2017 Saturday ,21 October

How to do open-heart surgery

GMT 13:44 2017 Friday ,20 October

Barcelona through George Orwell’s eyes

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 20:46 2017 Thursday ,19 October

Qualcomm files lawsuits in China to ban iPhones

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday