DMCC, Danube Properties to launch $545m residential project

DMCC, Danube Properties to launch $545m residential project

UAE – Mubasher: Dubai Multi Commodities Centre (DMCC) has partnered with Danube Properties to set up a new residential project in its Jumeirah Lakes Towers (JLT) district, according to a press release.

The 65-storey twin towers will bring 1,200 new residential units to JLT across a built-up area of 1.70 million square feet. Meanwhile, the development project is valued at nearly $545 million (AED 2 billion).

Under the design phase, the new residential towers will sit adjacent to DMCC’s Uptown Dubai district, bolstering JLT’s status as one of the most popular mixed-use communities in the emirate.

Ahmed bin Sulayem, Executive Chairman and CEO of DMCC, commented: “Demand for premium residential property across the JLT community is higher than ever, as we have seen with the resounding success of Viewz, our first project with the Danube which is fully sold.”

Rizwan Sajan, Founder and Chairman of Danube Group, said: “This partnership with DMCC empowers Danube Properties to enhance the appeal of our upcoming project, providing an opportunity for investors and homebuyers to capitalise on future value appreciation thanks to JLT's attractive location and the support of DMCC.”

The collaboration between the two parties follows on Viewz project in January, which had a development value of AED