Danube Glamz is assured of merchandising the Glamz project among a month and expects to launch 2 additional schemes in city before the finish of the year, the chairman said on Tues.
I should have conjointly launched two, 3, and 4 BHK. I know this may be sold . Before Ramadan, I will be out of this. Within one month, I expect everything will be taken by investors, Rizwan Sajan said throughout the launch. The Dh300 million, 418-unit Glamz project, will be engineered next to its existing Starz by Danube Glamz project in Al Furjan.
Danube Glamz Dubai
He said that he wished to stick to the company’s existing set up of solely shopping for plots for schemes and launching new comes once construction work on the previous development is beneath means.
However good we tend to ar merchandising, I don’t want to be greedy. I don’t want to be in a scenario wherever I launch 3 or four comes at a time and so i purchase stuck. Then I have to leverage with the banks. I would somewhat be happy making alittle profit, go one step at a time and move forward.
Construction work on Glamz should begin within 2 to 3 months, aid the company’s general manager, Atif Rahman, with the project due for completion by 2018.
Danube Glamz Al Furjan currently has a development portfolio value Dh1.8 billion, consisting of 1,711 small flats and city homes – the majority of those are sold , but some units stay obtainable among Dreamz and gaudiness III.
Mr Sajan aforementioned that eighty five per cent had gone to end-users trying to own instead of rent properties, but that some investors had taken a full floor containing 9 studios, five one-bed flats and a combine of two-beds – for Dh 8.5m.
He said that Danube Glamz Properties limits the quantity bought by single investors in schemes like Glamz to 1 floor, but aforementioned that these will bring in concerning Dh 900,000 a year – a yield of 10 to eleven per cent.
He is in negotiations for an additional plot, which he hopes to secure by the finish of the month. This will be used “to launch a project before Cityscape, and then before December we are going to hopefully have another one”.
Mr Rahman aforementioned that it can support the Glamz launch with two,306 outdoor advertisements, plus advertisements on eleven tv stations and seven radio stations. Many of these can feature the film industry histrion Shilpa Shetty and concentrate on convincing renters to change to owning, as well as a payment plan that needs a twenty five per cent deposit among six weeks and an additional one per cent payment every month.
Speaking to The National at the recent International Property Show, Abdul Basset Betraoui, the managing director of property consultancy Land Sterling, said that he felt Danube Properties “have got it spot on” once it comes to selling its schemes, including its valuation and payment set up supply.
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