Danube set to launch Dh1.5b project in Dubailand

be had for Dh1.2 million. The Dubailand project will feature more than 2,000 homes. Targeted completion is in 2022-23.

The plan is to launch the project “before the year is out”, and if so, this would be the biggest one by a private developer this year.

In fact, there is a debate raging among leading developers in the city, with one side insisting there should be a freeze on all new launches for 12 months or more, while the other side reckons it should be business as usual and leave it for property buyers/investors to decide.

Fears of an oversupply of newly built homes in Dubai persist. More, if developers are not able to find enough takers for these units. This is why some developers have spoken about a freeze on all new launches. “They may have their reasons,” said Atif Rahman, Director and Partner at Danube Properties. “But we had the launch of Waves recently and we managed to sell more than 90 per cent quickly.”

But Danube is not about to be distracted. “We would love to launch the project this year itself,” said Atif Rahman, Director and Partner at Danube

Properties. “Yes, the clock’s ticking away towards year-end, but we are nearly through with the pre-launch formalities. We are at the 85 per cent mark.”

Danube’s profile received a boost by the handover of the Glitz, its low-rise cluster in Studio City, where occupancy is at more than 90 per cent.

Some local developers have also held back sales until the project has gone past the 60-70 per cent stage of build-up. They believe buyers are more receptive to ready or near-ready offers. Does Danube intend to do a similar delay-the-sales strategy? “Why should we? We have done well sticking to what we have done in the past — that is, sales right along with the launch,” he added.