UAE-based Danube Properties has announced the launch of its twin-tower project Elitz 3, within the Jumeirah Village Circle (JVC), featuring 750 residential apartments with a mix of studios, one-, two- and three-bedroom units and a few retail stores.

 

The AED800 million ($218 million) project will be locatted in the same area as Elitz and Elitz 2 towers – which are currently under construction. On completion in Q4 2026, Elitz 3 will rise 40 and 46 floors high boasting more than 40 community, health, and lifestyle amenities including a health club, swimming pools, sports arena, tennis court, barbecue area, and jogging track.

 

Speaking at the launch, Group Founder and Chairman Rizwan Sajan said: "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."

 

"This is what has encouraged us to launch Elitz 3 within just a month after launching Elitz 2 at the Jumeirah Village Circle (JVC)," he stated.

 

"This is Danube's 24th residential project and the 9th project to be launched in the last 18 months. With this launch, the group's project portfolio stands at 11,529 units spread across 24 projects with a combined development value exceeding AED10 billion so far," he added.

 

Sajan said the prices of residential units start from AED699,000 ($190,305) onwards for a studio apartment, making them an attractive proposition for home buyers and investors who could benefit from the continuous price appreciation as the real estate sector is witnessing an increase in demand. 

 

"Danube Properties’ homes come with an attractive payment plan with a trend-setting 1 percent monthly payment plan, following the initial deposits – making home acquisition more affordable and attractive," he stated. 

 

"The homes are usually delivered around mid-way through the payment plan, which means the buyer can move into the apartment after paying 65 percent of the total value of the property. This helps homeowners extract additional value either by increasing savings on the rent or by paying the equated monthly installments (EMI) from the rental income," he added.-TradeArabia News Service