Khaleej Times, January 29 2018
It translates into an average sale of Dh3.1 million per working day
Since its first project in June 2014, the company has launched nine residential projects with 3,150 residential units with a combined development value exceeding Dh2.84 billion.
“In 2017, we launched two new projects – Resortz and Bayz – together having 875 apartments with a combined development value exceeding Dh750 million, all sold out,” said Atif Rahman, director and partner of Danube Properties. “We also awarded five constructio contracts with a combined value exceeding Dh392 million in 2017.”
These include a Dh221 million main contract for Miraclz Tower, Dh146 million contract for Resortz, Dh10 million piling and shoring contract for Miraclz Tower, Dh4 million piling and shoring contract for Resortz and Dh11 million piling and shoring contract for Bayz.
“As a developer, we launch a project once the previous project is sold out. It helps us to focus on sale and project construction for each of the projects. Once we close the sale, we put the project on tender and construction starts as the buyers keep making payments as per an agreed payment schedule,” Rahman said.
“This process helps us to complete each stage of the project – from concept, design, secure permission, sale and marketing, tendering, construction, completion, payment and delivery to complete the lifecycle of the project.”