Danube Properties has launched its first project in Dubai, Skyz Tower, since the onset of the COVID-19 pandemic, according to a statement by the company. The Skyz Tower, a Mediterranean-themed high-rise residential tower in Dubai, is valued at AED 475 million (USD 129 million).
The launch of the residential tower takes Danube Properties’ development portfolio to over 7,000 units at a combined development value surpassing AED 5 billion (USD 1.36 billion). Of this, AED 1.1 billion (nearly USD 300 million) worth of units are expected to be delivered by the end of 2021, the statement said.
Skyz Tower is being developed at the Arjan master planned community in Dubai. Sales of the residential tower have opened.
"The launch of the new project comes after a lot of thinking and due diligence - due to the pandemic. It is being launched at a time when we have seen an increase in demand for new homes. However, we are very confident of the fast sell-out of the project due to growing demand for new off-line properties,” Rizwan Sajan, Founder and Chairman of Danube Group.
The Skyz Tower comes with 808 units, retail outlets and recreational facilities, the statement said. The residential tower features a series of 'external gardens’ that are connected via an informal route.
Other facilities include a retail arcade, games room, infinity pool, lilly pool with water beds, viewing deck, BBQ area, jacuzzi lounge, business centre and an elevated Sky Jogging Track, amongst others.
THE SKYZ RESIDENTIAL TOWER JOINS THREE OTHERS TO BE LAUNCHED BY DANUBE
Sajan also said that three other ongoing projects will be handed over the next three months. These include Bayz, which has a sales value of AED 450 million, Miraclz, at AED 400 million, Lawnz, valued at AED 550 million and still in the process of being completed.
The three properties will take Danube Properties’ total delivered units to 4,281, with a sales value of over AED 3.5 billion.
This would bring the total number of projects under Danube Properties to 16, the statement showed.
Danube Properties is part of Dubai-based conglomerate Danube Group, which has businesses across building materials, home decor and real estate development.
Skyz Tower is part of a lineup of residential towers coming up in the UAE. Others in this line include the AED 800 (USD 217.8 million) Urban Oasis residential tower, the USD 1 million Dubai Creek Tower, and the Palm Tower in Palm Jumeirah.
Photo credit: https://danubeproperties.ae/projects/skyz-by-danube, www.gulfbusiness.com/
KEEP UP WITH THE REAL ESTATE INDUSTRY
Subscribe to the Cityscape Intelligence newsletter here