UAE-based Danube Properties has announced that Elitz, a major residential development it has invested Dh550 million (US$150 million) to establish at Jumeirah Village Circle, has sold out on the day of its launch.
Elitz is a twin-tower project spread over 36,930 square feet and will have 268 studio, 203 one-bedroom, 65 two-bedroom, 13 three-bedroom and four duplex units.
The Elitz will have a GFA of 695,000 sq ft and is connected to a podium which will house car parking, community facilities and 284 retail units. The development will be delivered in the fourth quarter of 2025.
Speaking at the launch, founder and chairman Rizwan Sajan said the development was snapped up by investors, buyers and brokers on the opening day, thus reflecting the strong interest from buyers.
A key attraction was that buyers who booked on the first day of the project's launch would receive a fully furnished flat, he said, adding that prices for studio flats started from AED 599,000.
"2022 will be a record year for Danube with six consecutive sold-out launches, thus reflecting the dynamism of the market and the strong interest of investors in quality homes," he noted.
"As 2022 draws to a close, we look forward to a new year that takes the real estate market to the next level with the delivery of some more iconic projects alongside those under construction," said Sayan at the ceremony, which was attended by Indian playback singer, music director and composer Ankit Tiwari.
Tiwari has become the latest Bollywood celebrity to join the Danube project, including Kiku Sharda, Meet Brothers, Karan Kundra and Tejaswini Prakash, who have found their "dream home" in the Danube project, he added.
Strategically, Elitz will provide easy access to Mohammed bin Zayed Road and Al Khail Road. The development comes with over 30 facilities and the Danube's benchmark facilities penthouse and shared facilities.
It will be surrounded by ample community facilities such as schools, hospitals, retail outlets, convenience stores, parks and commercial and recreational facilities including shopping centres, office buildings and hotels, with good connectivity to Dubai International Airport and Al Maktoum International Airport.
"It also introduces home office solutions in two-bedroom flats, where families can convert part of their open space into co-working facilities to manage work from home, which is becoming a trend after the Covid-19 pandemic," Sajan explains.
"Most companies are now allowing professionals to work from home, which saves time, reduces traffic on the streets and increases productivity. In addition, it offers a better work-life balance," he notes.
As well as presenting the ultimate in luxury and convenience through a host of features and amenities, all flats at Elitz are smart homes - owners can access household appliances through a smart home system.
He adds that the development boasts energy-efficient automatic lights, water-saving systems, environmentally friendly/environmentally friendly and the most futuristic architecture with contemporary design and LED-lit facades.
