The founder of Danube Properties, Rizwan Sajan, shrugged off concerns about overcapacity in Dubai’s residential property market after the launch of its eighth project, the Dh300 million Resortz development.
Mr Sajan said that although there were developers who were struggling to sell inventory, he is confident that all of the 444 units (including retail) it is building at Resortz, which is based at Arjan near Miracle Gardens, would be sold within weeks.
“Hopefully, it is going to be sold out in a month,” he said.
“Every market, there are two sides of the coin. On the one side, you will see in Dubai also there are some people who are crying - profit is not good, this or that is not happening. On the other side, you will see a lot of people are flourishing
“It depends on how you perceive the market. If you talk to most of the developers, they will say the market is cold and they are not able to sell. You look at it as Danube, we are.”
Danube Properties launched 1,274 units onto the market last year, with a combined development value of about Dh1bn. It also awarded Dh521m worth of construction contracts.
Mr Sajan said that he anticipates a 25 per cent to 30 per cent increase this year in the combined value of projects launched to between Dh1.2bn and Dh1.3bn.
He said that he was confident of a quick turnaround for Resortz partly because of its make-up - 305 of the 419 apartments are studios, which are most popular with investors due to the lower ticket price. Of the remainder, 54 are one-bed units, 56 are two-beds and there are four, three-bedroom apartments. There are also 25 retail units available at the site, which will consist of three, ground-plus-four storey blocks on a four-acre site. The company anticipates selling studios for Dh450,000 to Dh500,000, one-beds from Dh800,000 and two-bed apartments from Dh1.1m to Dh1.2m.
Atif Rahman, a director of Danube Properties, said that Danube is now close to handing over its first project, Dreamz by Danube, which was launched in June 2014.
“Quarter two will see the handover of our second and third projects, Glitz 1 and Glitz 2, followed by our next project, Glitz 3, in quarter three this year. So it’s going to be a landmark year with a lot of handovers,” he said.
He added that of the projects launched last year, preliminary works have taken place on both Starz and Glamz, and concrete pours for each building’s foundations are likely to take place this month and next month respectively.
Mr Sajan said that tenders had been issued for its seventh project, the 600-unit Miraclz development, and that a contract award was likely within the next four months. Following this, it will issue tenders for Resortz.
Danube Properties has already acquired a site for its next project, which is likely to launch in April.
“In the summer, we should be able to pick up a couple of more plots,” said Mr Sajan.
mfahy@thenational.ae
The biog
Name: Ayisha Abdulrahman Gareb
Age: 57
From: Kalba
Occupation: Mukrema, though she washes bodies without charge
Favourite things to do: Visiting patients at the hospital and give them the support they need.
Role model: Sheikha Fatima bint Mubarak, Chairwoman of the General Women's Union, Supreme Chairwoman of the Family Development Foundation and President of the Supreme Council for Motherhood and Childhood.
RESULTS
Main card
Bantamweight 56.4kg: Mehdi Eljamari (MAR) beat Abrorbek Madiminbekov (UZB), Split points decision
Super heavyweight 94 kg: Adnan Mohammad (IRN) beat Mohammed Ajaraam (MAR), Split points decision
Lightweight 60kg: Zakaria Eljamari (UAE) beat Faridoon Alik Zai (AFG), RSC round 3
Light heavyweight 81.4kg: Taha Marrouni (MAR) beat Mahmood Amin (EGY), Unanimous points decision
Light welterweight 64.5kg: Siyovush Gulmamadov (TJK) beat Nouredine Samir (UAE), Unanimous points decision
Light heavyweight 81.4kg: Ilyass Habibali (UAE) beat Haroun Baka (ALG), KO second round
Conflict, drought, famine
Estimates of the number of deaths caused by the famine range from 400,000 to 1 million, according to a document prepared for the UK House of Lords in 2024.
It has been claimed that the policies of the Ethiopian government, which took control after deposing Emperor Haile Selassie in a military-led revolution in 1974, contributed to the scale of the famine.
Dr Miriam Bradley, senior lecturer in humanitarian studies at the University of Manchester, has argued that, by the early 1980s, “several government policies combined to cause, rather than prevent, a famine which lasted from 1983 to 1985. Mengistu’s government imposed Stalinist-model agricultural policies involving forced collectivisation and villagisation [relocation of communities into planned villages].
The West became aware of the catastrophe through a series of BBC News reports by journalist Michael Buerk in October 1984 describing a “biblical famine” and containing graphic images of thousands of people, including children, facing starvation.
Band Aid
Bob Geldof, singer with the Irish rock group The Boomtown Rats, formed Band Aid in response to the horrific images shown in the news broadcasts.
With Midge Ure of the band Ultravox, he wrote the hit charity single Do They Know it’s Christmas in December 1984, featuring a string of high-profile musicians.
Following the single’s success, the idea to stage a rock concert evolved.
Live Aid was a series of simultaneous concerts that took place at Wembley Stadium in London, John F Kennedy Stadium in Philadelphia, the US, and at various other venues across the world.
The combined event was broadcast to an estimated worldwide audience of 1.5 billion.
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Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
Champions parade (UAE timings)
7pm Gates open
8pm Deansgate stage showing starts
9pm Parade starts at Manchester Cathedral
9.45pm Parade ends at Peter Street
10pm City players on stage
11pm event ends
UAE currency: the story behind the money in your pockets
MOUNTAINHEAD REVIEW
Starring: Ramy Youssef, Steve Carell, Jason Schwartzman
Director: Jesse Armstrong
Rating: 3.5/5
RECORD%20BREAKER
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Tips to stay safe during hot weather
- Stay hydrated: Drink plenty of fluids, especially water. Avoid alcohol and caffeine, which can increase dehydration.
- Seek cool environments: Use air conditioning, fans, or visit community spaces with climate control.
- Limit outdoor activities: Avoid strenuous activity during peak heat. If outside, seek shade and wear a wide-brimmed hat.
- Dress appropriately: Wear lightweight, loose and light-coloured clothing to facilitate heat loss.
- Check on vulnerable people: Regularly check in on elderly neighbours, young children and those with health conditions.
- Home adaptations: Use blinds or curtains to block sunlight, avoid using ovens or stoves, and ventilate living spaces during cooler hours.
- Recognise heat illness: Learn the signs of heat exhaustion and heat stroke (dizziness, confusion, rapid pulse, nausea), and seek medical attention if symptoms occur.
More from Rashmee Roshan Lall
Other workplace saving schemes
- The UAE government announced a retirement savings plan for private and free zone sector employees in 2023.
- Dubai’s savings retirement scheme for foreign employees working in the emirate’s government and public sector came into effect in 2022.
- National Bonds unveiled a Golden Pension Scheme in 2022 to help private-sector foreign employees with their financial planning.
- In April 2021, Hayah Insurance unveiled a workplace savings plan to help UAE employees save for their retirement.
- Lunate, an Abu Dhabi-based investment manager, has launched a fund that will allow UAE private companies to offer employees investment returns on end-of-service benefits.
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Our legal columnist
Name: Yousef Al Bahar
Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994
Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers
