Udaipur : Danube Properties, a major Dubai-based property developer, has rolled out its latest project where prices of an apartment starts from US$79,000 or IRS53 lakhs – the cheapest home available in the emirate.
The Lawnz offers a great investment opportunity for Non-Resident Indians (NRIs) as well as Indians with high disposable income who could benefit from more than 10 percent rental yield. Rent of a studio apartment at the International City is more than Dh30,000 per annum – more than 10 percent of the property value.
However, the 1 percent per month payment plan that allows home buyers to get the key after payment of 52 percent, means that the buyer could start counting rental income after having paid just over half the property price – or more than 20 percent of the amount paid for acquiring the property.
Indian nationals are the largest foreign investors in Dubai’s real estate sector, according to the data released by Dubai Land Department.
Danube Properties launched its 11th project – the Dh550 million Lawnz at the International City – Comprising of 1,064 units which will take its portfolio to 4,744 units with a development value exceeding US$1 billion, spread across 11 successful projects.
Construction of the project is expected to start in 2018 with completion in 2020. Lawnz is Danube Properties’ first project at the International City and its first gated complex.
“This is our biggest project so far that will add 1,064 units to our existing portfolio and we are all excited to launch the project at the International City that has a very vibrant community,” Rizwan Sajan, Founder Chairman of Danube Group, said. “This is our second project launch this year and comes after three months of the launch of the Dh300 million Jewelz that adds 463 units offering more than 15 percent return on investment, which has been a runaway success in terms of sale.
“The launch of such a large project at such a crucial time reflects our confidence in Dubai’s real estate market which will continue to grow due to the attractiveness of Dubai and the UAE as a major investment destination.”
The Dh550 million Lawnz offers 1,064 residential units, ranging from studio, one and two-bedroom apartments. The project is conveniently located at the International City Phase 1. The Super lavish amenities include a massive 3.8 Acres Promenade which offers Canal, Sunken Plaza, a fully equippedhealth club, swimming pool, steam and sauna room, multi-purpose hall, jogging track, barbecue deck, badminton court, multi-purpose court and a high tech surveillance system for the protection and security of the residents. The property also comes with a 42metres wide entrance and outdoor cinema.
Among the residential units, 50 percent of the units are studio apartments while 40 percent are one-bedroom apartments and 10 percent are two-bedroom apartments.
The building design and architectural aesthetic was created to reinforce the design strategy of Danube, which helps maximise the living space while delivering convenience of community living. The project dedicates 50 percent space to open areas with an emphasis on greenery and landscapes.
Atif Rahman, Director and Partner of Danube Properties, said “apartments at Lawnz have been priced keeping the end-users in mind and their comfort level. The units come with the most unique and unseen design of living space.
“In addition to the project’s location and the five-star facilities, Danube’s industry leading 1 percent per month payment scheme will ensure a faster sell-out of the properties. Lawnz will attract a large number of new home buyers – who were earlier unable to own their home due to price constraint.
“Because of our Volume, Value Engineering and Design efficiency, we were able to offer luxury at an affordable price. However, the monthly payment has empowered the buyers and has encouraged the middle income families to put their life savings in our properties.
“In this way, we are hopeful of attracting new home buyers who were deprived of the opportunity of owning their own home until now.”
Danube Properties has so far launched 11 residential projects, of which four have been delivered, two are getting ready for delivery while four others are at various stages of construction and one in tendering stage.
The company has one of the fastest development-to-delivery ratio in the region’s real estate market where timely delivery of properties remains a major challenge. That way, Danube Properties’ performance in construction and delivery is helping strengthen buyers’ trust in real estate.