Danube Properties has revealed that 85 percent of its recently-launched AED300 million ($81 million) Jewelz project has sold out within two months of its market debut.
The developer said investors have snapped up 393 units of the 463 apartments.
“Jewelz has appealed to the masses in a big way – offering more than 15 percent return per annum that no financial products in today’s market can match,” said Rizwan Sajan, founder chairman of Danube Group.
“Jewelz has captured the imagination of the property buyers in a big way. Selling of a project in just two months is a huge achievement in today’s market.”
Jewelz offers 463 residential units, ranging from studio, one and two-bedroom apartments plus a health club, swimming pool, steam and sauna room, multi-purpose hall, jogging track, barbecue deck, badminton court, paddle tennis court and a high tech surveillance system.
Construction of the project, which is currently in tendering stage, will start this sumer and is slated to be delivered before the Expo 2020 mega event in October 2020.
The launch of Jewelz takes Danube’s total development portfolio to 3,680 residential units, worth AED3.14 billion.
Danube has delivered 827 properties so far including the handover of Glitz Residences 1 and 2 with 302 and Glitz Residences 3 involving 354 residential units and 171 townhouses at Dreamz project till March 2018. It will deliver a further 870 units later this year.
Source : Arabianbusiness