(MENAFN - Khaleej Times) Danube properties has sold out its maiden project during a day-long sales campaign held on tuesday that reflects strong investors? interest in the dubai property marke
investors wait in a queue to collect tokens at danube properties commercial sales launch on tuesday evening. — supplied photo
It was first property project of danube which recently celebrated its 20th anniversary. all of the 171 townhouses within dreamz by danube project were sold on the first day of commercial launch of dh500 million project.
The sales meet saw more than 1000 registered buyers and investors queue up to lay their hands on the ‘prized possessions’ — townhouses that was offered on first-come-first-serve basis. equipped with tight security and good crowd management measures the event saw a disciplined sale process.
This is the first full project sell-out on a single-day sales campaign by a private developer in nearly six years since september 2008 – the month the region’s real estate market fell victim to the global financial crisis.
“this is a great moment not only for danube properties but also for the entire real estate fraternity of the uae and reflects strong investor and end-user confidence” rizwan sajan chairman of danube group and danube properties said. “this is also a testimony that if you have the right product right location right pricing and the right developer brand behind the project then the there won’t be shortage of buyers” sajan added. the announcement comes within less than two weeks after danube group launched its real estate subsidiary danube properties. the launch price of dh2.5 million for a 2500 square feet townhouse reflects an attractive price point for just around dh1000 per square feet that instantly offers great prospect for a sizeable premium for resale at the greater al furjan neighbourhood.
The near stampede sell-out event took place despite a slowdown dubai’s residential sales market to more moderate growth levels in the first quarter of 2014 following a spike in prices after the expo 2020 announcement at the end of 2013. “apartment and villa price sales prices stabilised at three per cent and six per cent growth respectively” said the latest dubai report for q1 2014 by leading regional real estate services firm asteco. villa sales price gains were led by moderately priced developments such as al furjan and jumeirah village recording 22 per cent and 15 per cent in the first quarter growth respectively with prices per square foot ranging from dh1000 to dh1200 and dh850 to dh1100 it said.
Size of the 3 and 4-bedroom townhouses will have built-up area beween 2500 and 3000 square feet while each townhouse will come with a garden that will accompany water features. the modern luxury townhouses come with contemporary design latest finishing from the country’s best building materials and interior supplier that guarantee quality finishing.
Both real estate buyers and investors were prompt in snapping up the townhouses. “our overall product offering creates a great opportunity for both end-users and investors who could reap good dividends within a few months as we prepare to construct the project” sajan said.
Danube group the largest building materials and home furnishing supplier in the gulf earlier this month announced its foray into the real estate market with a dh500 million project — dreamz — a lush green and well-landscaped neighbourhood of 171 luxury townhouses within al furjan community.
“this is our first project and the sell-out of all of the 171 townhouses reflect investor confidence in danube properties as well as the real estate market in dubai. this end-user and investor endorsement will encourage us to carry out our construction works and deliver the project timely to our valued customers by 2016 and also launch more such projects in the coming years” sajan said.