Dubai-based Danube launches $218mln twin-tower residential project in Jumeirah Village Circle

Dubai-based Danube launches $218mln twin-tower residential project in Jumeirah Village Circle

Dubai-based Danube Properties has launched an 800 million UAE dirhams ($217.80 million) twin-tower residential project, Elitz 3, at the Jumeirah Village Circle (JVC).

The two 40- and 46-storey towers will house 750 residential units, the developer said in a statement, adding the project is slated for completion in the fourth quarter of 2026.

Elitz 3 is Danube’s 24th residential project and the ninth project launched in the last 18 months.

The developer’s project portfolio comprises 11,529 units with a combined development value exceeding AED10 billion.

“Dubai’s real estate market continues to defy global economic slowdown due to its dynamism and attractiveness, and we see sustained growth soon, which reinforces our firm belief in the market,” said Rizwan Sajan, Founder and Chairman of Danube Group.

The statement said Elitz and Elitz 2 towers in JVC are currently under construction.

It said the developer will also deliver three projects this year, including Wavez, Jewelz, and Olivz.

Danube has delivered 4,555 units to date with a combined sales value of AED3.63 billion.

(Writing by P Deol; Editing by Anoop Menon)

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