real estate news

Danube Properties Expands to Abu Dhabi and Ras Al-Khaimah, Eyes Mumbai Market

By GeoSquare News Desk · Published 2024-07-09

After successfully launching affordable, mid-segment, and luxury housing projects in Dubai, Danube Group is now planning to expand its presence to Abu Dhabi and Ras Al-Khaimah, two of the seven emirates in the United Arab Emirates (UAE). This move is driven by interest from Indian investors in these real estate markets. Rizwan Sajan, founder and chairman of Dubai-based Danube Group, revealed that Indian investors comprise almost 30-40% of the company's clientele in Dubai. Considering this interest, the company is planning to launch projects in Abu Dhabi and Ras Al-Khaimah.

Sajan, also known as the '1% man' due to his firm's innovative 1% payment plan, mentioned that under this plan, homebuyers make a 20% down payment and 1% per month for the next 80 months. The property is delivered to the buyer in three years, and the balance payment is made to the company after the buyer has received possession of the property.

The company has had a successful run in Dubai, launching at least 12 projects in the last two years. However, Sajan expressed his interest in exploring other markets, including Abu Dhabi and Ras Al-Khaimah, in the future. He also hinted at the possibility of entering the Mumbai real estate market, although no concrete plans have been made yet.

Danube Group has a strong presence in the UAE, with a development portfolio comprising 28 projects with a combined value exceeding $5.44 billion. The company is popular among Indian investors, with many hailing from North India, Mumbai, Gujarat, and South India. In fact, Indian investors make up almost 30-40% of the company's clientele.

Sajan expressed his admiration for the Mumbai real estate market, specifically the Bandra and Khar areas. However, he is cautious about introducing the 1% payment plan in Mumbai, citing the need to assess its feasibility in the local market.

In terms of pricing, Danube Properties constructs affordable housing units in Dubai, with prices starting from around ₹1.90 crore. The company's offerings range from ₹2 crore to ₹10 crore, with luxury sky villas priced above ₹10 crore.

Information
Danube Group was established in 1993 and has since diversified into building materials, home decor, and hospitality solutions. Danube Properties entered the Dubai market in 2014 and has become a leading developer in the region.

Danube Group is a leading UAE-based conglomerate with a diverse business portfolio. The group's real estate arm, Danube Properties, has established itself as a prominent developer in Dubai, with a development portfolio comprising 28 projects with a combined value exceeding $5.44 billion.