Danube’s $150mln residential tower sold out on launch day

Danube’s $150mln residential tower sold out on launch day

UAE-based Danube Properties has announced that it has sold out Elitz, a key residential project being set up at an investment of AED550 million ($150 million) in Jumeirah Village Circle, on the day of launch.

A twin-tower project to be developed on a 36,930 sq ft plot, Elitz will feature a total of 268 studios, 203 one-bed, 65 two-bed and 13 three-bedroom flats and four duplexes.

With a built-up area of 695,000 sq ft, Elitz stands connected to a podium complex that houses a car parking, community facilities as well as 284 retail units. It is due for handover in the fourth quarter of 2025.

Speaking at the launch, Founder and Chairman Rizwan Sajan said the project was snapped up by the investors, buyers and brokers on the opening day, thus reflecting the strong buyer interest.

A key attraction was that buyers booking on the first day of the project launch, will get a fully furnished apartment, he stated, adding that prices of a studio apartment starts at AED599,000.

"For Danube, 2022 is going to be a record year when it launched six sold out projects–consecutively, thus reflecting the buoyancy in the market and strong investor interest in quality homes," he noted.

"As we close 2022,