Dubai’s Danube to begin work on $817mln Bayz101 in Q2 2024

Dubai’s Danube to begin work on $817mln Bayz101 in Q2 2024

Dubai-based developer Danube Properties will award the enabling works contract for 3 billion UAE dirhams ($816.78 million) Bayz101 in Business Bay in the second quarter of 2024, Danube Group Founder and Chairman Rizwan Sajan told Zawya Projects.

The main construction contract for the 101-storey skyscraper will be awarded in the fourth quarter of 2024, with completion slated in 2028, he added.

In July 2023, the developer purchased the land plot from Shuaa Capital, a Dubai-listed investment banking and asset management company, for AED190 million.

Sajan cited several factors behind the launch of Bayz101, including the positive market conditions post-2021, an upturn in demand for homes since the end of the COVID-19 pandemic and the success of Expo 2020.

“Demand for quality homes is going to continue,” Sajan said, adding that developing “more and bigger” projects makes sense, especially when the market is good.