Top 4 affordable housing developers in the UAE
They share their business philosophy here for the mid market
Mid-market residential development in Dubai has seen a substantive inventory rise in the recent few years. Areas, particularly Al Furjan, Dubailand, Dubai Production City, Dubai South, Jumeirah Village Circle are mainly focused towards serving the needs of the homebuyers, who seek reasonably priced units. Property Weekly lists the top four developers in Dubai who have made an extensive contribution in bringing affordable properties in the market. They share their business philosophy here:
Danube Properties
The property arm of Danube Group has enjoyed phenomenal success since 2014, backed by a line-up of affordable projects, including the new launch Olivz, under-construction projects Wavez, Elz, Lawnz, Jewelz, Miraclz, and completed projects Glamz, Starz, Glitz Residence I, II, III, and Dreamz. Each project offers residents units in attractive locations at affordable prices with a uniquely designed pay 1 per cent per month post-handover on payment plans.
Our philosophy: Affordable Housing segment will always be the backbone of any real estate market. Danube properties looks at delivering more space in less square feet with great value for money. The cost of living in any developed city will continue to increase, and with every passing year, the acquisition cost of real estate assets will become costlier. Danube’s numerous completed projects reflect the quality it promises. “Homes do not need to be expensive to be luxurious; Luxury could be affordable and we have shown it time and again in our various developments,” says Atif Rahman, director and partner at Danube Properties.
Pantheon Development
Pantheon Development was founded in 2016 by its Chairman Kalpesh Kinariwala. Its projects include Boulevard, a Dh150m five-story affordable luxury building in Jumeirah Village Circle; Elysee I - an affordable Dh200m luxury development also in JVC; and Elysee II and III, a Dh300m, G+4 building in the same area that will soon be launched.
Our philosophy: The Pantheon philosophy is all about finding solutions to exceed the needs and expectations of customers. “The work is supported by the principles of delivering quality as promised, and building project by project at a time. This allows giving more attention, focus and value to achieving the final product,” says Kinariwala.
Sand Sand Developers
Sun and Sand Developers has been in Dubai for the past 14 years, behind several award-winning projects. Sunbeam Homes, one of their first developments, was in the affordable housing category. Their famous three-bedroom duplex apartments, Sunshine Residences, has earned the title of “best maintained building” from DSOA since its completion in 2016. Now Suncity Homes gives investors and buyers a unique opportunity to invest in a quality asset in two schemes: an assured net 6 per cent ROI for three years and a unique three-year rent-to-own scheme for first time buyers.
Our philosophy: “Affordable housing projects must be as good as any other project. They must be of highest quality and show utmost respect to the customer,” says Sailesh Israni, Group MD.
Akshara Global Real Estate
This family-owned real estate company believes in the balance between affordability and luxury and strives to provide the best possible design and amenities. Its first project was Laya Residences sold out within six months of launch and Laya Mansion, is being handed over in JVC.
Our philosophy: “We want customers to shift from a rent-driven model to an end-user home with flexible payment plans. Our priority is generating the highest value possible for them,” says Sundeep Tolani, CEO.