Muscat: Real Estate company, Danube Properties on Wednesday, introduced a Dh550 million project coming up in Dubai International City (DIC) to potential buyers in Oman.
Danube’s new project Lawnz is offering studio apartments starting from Dh290,000. Moreover, 80 per cent of the apartments have been sold. About 880 more units will be delivered later this year. The entire project is likely to be ready in 2020.
The property includes facilities such as a health club, swimming pool, jogging track, barbecue platform etc. It also boasts of high-tech surveillance system to ensure security of the residents. As much as half of the project’s area has been dedicated to green spaces and landscaping.
Notably, Danube Properties’ portfolio now exceeds $1 billion. This covers 4,744 units in as many as 11 projects.
Bullish about project
Atif Rahman, Director and Partner of Danube Real Estate Company, said: "We are extremely satisfied with the project and the response that we got from our valued customers. The Lawnz project that was launched last week is the 11th and the first in the Dubai International City.
“With a budget of Dh550 million, the project includes 1,064 housing units, including one and two bedroom studios and apartments. This is the largest project we have undertaken, so far and it is located in the cosmopolitan city within a very vibrant community.”
He added that Lawnz is the second project launched by the company this year, three months after the launch of the Jewelz project, a project with a budget of Dh300 million.
While 50 per cent of the units are studio apartments, 40 per cent are one-bedroom apartments, and 10 per cent are two-bedroom apartments.
Rahman added: "The apartments are priced at very competitive prices to market prices to attract buyers. Through smart marketing and an easy payment method, which represents one per cent per month of the value of the unit, the company was able to provide luxury at reasonable prices. The project guarantees an investment return of more than 15 per cent every year, due to the lower cost of purchasing assets."
Before this project, Danube had 3,680 residential units with investments exceeding Dh3.14 billion in 10 projects.
Danube has delivered 831 housing units to date, including 302 units in Glitz Residence 1 and 2. It also delivered 358 housing units in the Glitz Residence 3 project, in addition to the delivery of 171 units in the Dreams project in March 2018. The company will later hand over 870 new units in its Jewelz project.
New office in Muscat
It was also announced that Danube Properties would launch its new office in Muscat by next year. Rahman said: "We have a strong market in Oman and there are many potential buyers in Sultanate. Our new office in Muscat will help assist such buyers to streamline the processes and a dedicated office will meet their every need. An expert team will always be available to answer any question regarding the property, location and payment."