Danube Properties' Market Share Rises To 10.6 Per Cent, As Sales Hit Dhs978m

The Dubai-based developer sold 1,869 units in 2018 - more than 10 per cent of the total off-plan units sold in Dubai.

A 78.5 per cent jump in residential sales boosted Danube properties’ market share of off-plan sales to 10.6 percent in 2018 - far outdoing the overall off plan market’s rise of 5 per cent.

The company sold 1,869 residential units last year, according to the developer’s annual report, representing 10.6 per cent of the 15,933 off-plan units sold in Dubai.

The sales value of those 1,869 units increased by 19.26 per cent to Dhs978m last year, compared to the sales value of the 1,047 units Danube sold in 2017, worth Dhs820m, the report shows. among the total number of properties sold by Danube, 89 were ready-to-move-in while the remaining 1,780 units were off-plan.

“Despite strong headwinds affecting the growth of the global economy, the UAE economy remains an oasis for growth,” said Rizwan Sajan, founder and chairman of Danube Group.

“The end of conflicts elsewhere in the Middle East bodes well for growth in the regional economy.

“We see strong growth opportunities in our economy, and we remain fully committed to the local economy and the real estate sector with more project launches as we move forward.”

Construction contracts

To date, Danube properties has awarded Dhs1.6bn worth of construction contracts across 10 of its 12 projects launched so far. In 2018, Danube completed construction of 358 residential units, and awarded construction contracts for 926 units.