Danube Properties, one of the Dubai-based private developers, said that its latest project, the Dh550m Elitz, sold out on launch day. This has shown the demand for affordable segments in the UAE, forecasting immense real estate opportunities. The project is estimated to be ready for handover by the latter half of 2025.

The 36,930 square feet plot was a part of the Jumeriah Village Circle. The project has a built-up area of 695,000 square feet. It is said to deliver 203 one-bedroom apartments, 65 two-bedroom apartments, 268 studio apartments, 13 three-bedroom flats, and four duplexes. In addition, the twin tower project is connected via a podium complex that houses car parking slots, community facilities, and 284 retail units. 

Rizwan Sajan, founder and chairman of Danube Group said, “The real estate market in Dubai has come out of age and has demonstrated resilience by registering growth amid the biggest pandemic in human history, by recording Dh300 billion sales and mortgage transactions last year, which is definitely going to be broken this year to create a new record.”

For all the latest real estate news, Investment Opportunities, and business news from the UAE, follow us on Twitter and LinkedIn, like us on Facebook, and subscribe to our YouTube Channel, which is updated daily.