Danube Group Sells Shah Rukh Khan-Named Dubai Tower for Rs 5,000 Crore
The Danube Group has achieved a major real estate milestone by selling a one million square foot premium commercial tower in Dubai, named after Bollywood superstar Shah Rukh Khan, for over Rs 5,000 crore. This sale underscores the strong demand for office space in the city.
Dubai-based Danube Properties is developing the commercial tower, ‘SHAHRUKHZ by Danube,’ on Sheikh Zayed Road, with a total cost of around Rs 3,500 crore. The tower, which was completely sold out at an event held at the Dubai Exhibition Centre, saw participation from around 7,000 people, including real estate brokers. The company has achieved sales bookings of AED 2.1 billion (over Rs 5,000 crore), surpassing initial estimates.
Shah Rukh Khan, who attended the event, expressed his gratitude and pride. “To see a project of this scale in Dubai carry my name is both an honor and a reminder of how generosity and vision can come together. Dubai has always embraced me with warmth – it’s a city built on courage, imagination, and the belief that nothing is impossible,” he said.
The 55-storey commercial tower was launched for sale last month in Mumbai, in the presence of the Bollywood actor. The company aims to complete the tower by 2029. When asked about the total project cost, Danube Group Founder and Chairman Rizwan Sajan mentioned that it would be around Rs 3,500 crore, including land and construction expenses. The investment will be met through internal accruals and advances from customers against sales.
“The commercial project is set to become one of the most prestigious business landmarks in Dubai,” said Rizwan Sajan, who is an Indian born in Mumbai. Both Rizwan Sajan and Shah Rukh Khan hinted at the possibility of more towers named after the actor in the future.
Adel Sajan, Managing Director of the Danube Group, explained that the celebrity tower was conceptualized and designed after studying more than 100 prime commercial projects worldwide. Out of the one million square feet area in the upcoming tower, more than 9 lakh square feet will be dedicated to office spaces. Adel noted that there is a scarcity of Grade A office space in Dubai, while the demand is strong from multinational companies looking to establish a presence in the city.
The MD strongly believes that the demand for both residential and commercial space in the Dubai market will remain robust in the coming years. Danube Properties, a subsidiary of the Danube Group, is one of the leading private real estate developers in Dubai. Founded in 1993, the Danube Group entered the real estate development business in 2014 and is also involved in the building materials sector.
The company has launched 40 real estate projects to date, with 18 already delivered and the rest at various stages of construction. Adel Sajan expects the company to achieve sales of properties worth Rs 22,000 crore this calendar year, with 25 percent coming from Indian customers.
