Danube Properties’ Dh550 million Elitz sold out on day of launch

Danube Properties, the UAE-based affordable housing pioneer and one of the most dynamic and popular private real estate developers in the UAE, sold out Elitz, its fifth residential project in 2022 with a development value exceeding Dh550 million, marking a record year for the developer.

Elitz, to be developed at 36,930 square feet plot of land at Jumeirah Village Circle, will have a built-up area of 695,000 square feet. It will deliver 268 studios, 203 one-bedroom apartments, 65 two-bedroom flats, 13 three-bedroom flats and four duplexes. Elitz is a twin-tower project that is connected with a podium complex that houses car parking, community facilities as well as 284 retail units.

Elitz, has been sold out at launch, snapped up by the investors, buyers and brokers, reflecting the strong buyer interest. The project is planned for handover in the fourth quarter of 2025 to customers.

Rizwan Sajan, Founder and Chairman, Danube Group, while addressing a crowded press conference in Dubai, said, “The real estate market in Dubai has come out of age and has demonstrated resilience by registering growth amid the biggest pandemic in human history, by recording Dh300 billion sales and mortgage transactions last year, which is definitely going to be broken this year to create a new record.

“For Danube Properties, 2022 is going to be a record year for us when we launched six sold out projects–consecutively, this reflects the buoyancy in the market and strong investor interest in quality homes. It reflects the customer loyalty and the goodwill developed by Danube Properties in the market. We take this opportunity to thank our customers – our biggest stakeholders, Dubai Land Department and other partners for a record-breaking year.

“As we close 2022, we look forward to a new year with renewed hope of delivering some more landmark projects while delivering the under-construction projects to take the real estate market to the next level.”

Residents of Elitz will have easy access to Mohammed Bin Zayed Road and Al Khail Road. It comes with more than 30 amenities and Danube Properties' benchmark facilities penthouses, common-use facilities and offers magnificient views of the neighbourhood on all sides of the building – that redefines luxury lifestyle.

It also introduces home-office solutions in two-bedroom apartments, where families can convert a part of the open space into a co-working facility to manage work from home, which is becoming the trend following the pandemic. Most companies now allow professionals to work from home, which saves time, reduces traffic on the street and increases productivity. Moreover, it offers a better work-life balance.

Prices of a studio apartment start at Dh599,000. Buyers booking on the first day of the project launch will get a fully furnished apartment.

Ankit Tiwari, an Indian playback singer, music director and composer of Bollywood fame was present at the launch and is the new Bollywood celebrity to join an extended list of Indian celebs such as Kiku Sharda, Meet Brothers, Karan Kundra and Tejaswini Prakash, all who have found their dream home in Dubai with Danube Properties.

Elitz is the 20th real estate project launched by Danube Properties so far within eight years of the launch of its first project in 2014. It has so far delivered 13 of the 20 projects launched earlier – making it one of the most successful developers when compared to announced vs delivered projects.

With the launch of Elitz, Danube Properties’ current development portfolio exceeds 8,779 units, with a combined sales value exceeding Dh6.75 billion. It has so far delivered 4,556 units with a combined sales value of Dh3.63 billion – more than half of the entire portfolio value.

Once built, Elitz will be surrounded by ample community facilities such as schools, hospitals, retail outlets, convenient stores, parks as well as business and recreational facilities including shopping malls, office towers and hotels. It also has great connectivity to Dubai International Airport and Al Maktoum International Airport.

The project boasts energy-efficient automatic lights, water conservation system, environmentally friendly /eco-friendly and the most futuristic building with contemporary design and LED lighting façade. Apart from presenting ultimate luxury and convenience for life through a multitude of features and amenities, all apartments in Elitz are smart homes – owners will have access to home appliances through a smart home system.

The extravagant amenities at Elitz include waiting lounge/atrium/entrance lobby designed by interior designer with Wi-Fi, business centre at ground floor with personal secretary, male/female prayer room with ablution, doctor on call, kids day care/nanny on board, electric car charging point, shallow pool, kids pool, toddlers splash pad, jacuzzi, water lounge (In-built gym equipment aquatic gym) and family sitting area/cabanas and a BBQ area, among others.

For its residents to maintain a healthy lifestyle, Elitz offers a gymnasium, open-air yoga platform, jogging track with rubber flooring, games zone (pool table, snooker, table tennis), wellness centre, spa, etc. Apart from all these a multipurpose hall/party hall and sky lounge at the crown of the tower have also been provided, with a juice bar at Top Crown together with skybridge at the crown of the tower.

Danube Properties offers home-owners the coveted 10-year Golden Visa – especially those who qualify as per the investment criteria – subject to government approval.

As one of the most successful developers in the UAE with the highest launch-to-delivery ratio, Danube Group has recently delivered Bayz, Glamz, Starz, Resortz and Lawnz, while it prepares to deliver two more projects this year. All these projects have been greatly appreciated by those who had bought units in them.

Danube Properties has recently launched two projects, Gemz and Pearlz in Al Furjan, a vibrant residential development located between Sheikh Zayed Road and Mohammed Bin Zayed Road. In May this year, it launched Gemz and in September this year, it launched Opalz – all sold out at launch. The end-users and brokers had lined up before the stipulated time and thronged the Danube Properties office as soon as it opened. This amply demonstrates buyer confidence in Danube Properties.