Glamz Project Offers Affordable Housing in Dubai

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Glamz Project Offers Affordable Housing in Dubai

Glamz Project Offers Affordable Housing in Dubai

Danube Properties is certain of offering the Glamz housing project in a month and hopes to dispatch two more plans in Dubai before the year ends, according to Danube Chairman Rizwan Sajan.

During the launch, the chairman was quoted saying, “As opposed to just Glamz I, I ought to have likewise pushed for II, III, and IV. I know this will be sold and before Ramadan, I will be out of this. In only one month, I expect investors can take everything.”  The Dh300 million Glamz project which carries 418 units, will be standing beside the existing Starz in Al Furjan, also by Danube venture.

The chairman adds that he would like to adhere to the organization’s current plan arrangement of just purchasing plots for schemes and opening new undertakings once construction development with the previous project is under way.

“Despite the great deals we are offering, I would prefer not to be greedy. I would prefer not to be in a circumstance where I dispatch three or four undertakings at once and after that I get stuck. At that point I need to leverage with the banks. I would rather be cheerful making a little benefit, go slowly and carefully and move forward.”

The company’s general supervisor, Atif Rahman announced that Glamz’s construction development ought to start in about two to three months’ time as the housing project is due to finish by September 2018.

Danube Properties now has an impressive portfolio worth Dh1.8 billion, comprising of 1,711 little flats and town houses – these have been sold, more or less, yet a few units stay untaken inside Dreamz and Glitz III.

Mr Sajan said that 85 percent had gone to end-clients hoping to keep instead of rent properties, however some investors had taken a full floor containing nine studios, five one-bed pads and a couple of two-beds – for Dh8.5m.

He said that Danube Properties constrains the sum purchased by single financial investors in schemes, for example, Glamz to one story, yet said that these can bring profit of about Dh900,000 a year – a yield of 10 to 11 percent.

He is in arrangements for another plot, which he plans to secure before the month is over. This will be utilized “to dispatch a project before Cityscape, and that before December, hopes to have another”.

Mr Rahman said that it will back up the Glamz launch with 2,306 outside promotions, in addition to commercials on 11 TV slots and seven radio stations. A large number of these will highlight the Bollywood performing artist Shilpa Shetty and concentrate on persuading leaseholders to change to owning, and an installment plan that requires a 25 percent deposit in six weeks and a further 1 percent up front installment every month.

Addressing to The National at the previous International Property Show, managing director of the property consultancy Land Sterling, Abdul Basset Betraoui said that he felt Danube Properties have it spot on with regards to advertising its schemes, including its pricing and installment plan offer.

 

Mohamed Dekkak

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