Danube Group, a diversified conglomerate with interests in real estate, building materials and interior products based in Dubai, has officially launched a new living concept that creates more life space – by turning one bedroom into two at night –  within a limited household and offers greater comfort and convenience to upwardly mobile families.

The concept is being introduced in Ritz by Danube, a Dh-300 million ($81.6 million) development being planned in Al Furjan neighbourhood in Jebel Ali area of Dubai that is in close proximity to Dubai South, a 140-sq-km mixed-use development, that will host Al Maktoum International Airport and the World Expo 2020.

Danube has partnered with a Spanish home technology solutions provider that will install modular furniture in the living room with the full-size bed tucked into the wall as part of the interior home décor with a sofa set.

The bed, when released from the wall, gradually falls on the ground as a bed, ready to sleep in. Additionally, the collapsible doors provide quick and easy space division for privacy, said a statement from Danube.

The unit comes as part of a fully-furnished home offering – the Ritz – by Danube Properties which is bundling out the solutions for as low as Dh430,000 ($117,050) for a studio flat with a one-per cent monthly payment plan that is convenient to the end-users. The one per cent payment plan allows buyers to only pay 52 per cent of the total value before the possession and the rest 48 per cent will be paid in convenient EMIs.

The house price continues to decline on weak demand; however projects like RITZ by Danube fulfill an important gap in the market. The new home solution- RITZ by Danube will appeal to new couples and small families who are on the move and want a cozy, ready-made home with fitted-in furniture.
The amenities give home-owners enough space to entertain and host guests and friends over the weekend.

With property prices coming down to a more realistic level that are becoming attractive to the end-users, there is a possibility of a large-scale migration to home ownership, from rental homes.

“Developers need to read the market requirements and respond to the consumers’ needs. When I heard about Ritz by Danube, I somehow knew that it is one project which is being developed for the masses, who aspire to own a house in Dubai," said Bollywood icon Anil Kapoor, who has bought a flat in Ritz by Danube development.

"I congratulate Danube Team for seeing this innovation through and bringing a new wave of affordable housing to the fore. I urge everyone to have a look at the show apartment to witness the latest technology in real estate," he added.

With Dubai’s property prices remaining lower compared to global hub cities such as London, Mumbai, Singapore and Hong Kong, the new low-price environment offers a great opportunity for consumers to benefit from not only the asset but the price appreciation of the asset when delivered.

Dubai offers one of the highest rental yields of 8-10 per cent in the worst case scenario. In most cases, the value addition leads to a rental yield of around 10-12 per cent – which means an end-user spends 10-12 per cent of the home price in yearly rent.

Rizwan Sajan, the founder and chairman, Danube Group said: "We are so excited to have Kapoor as one of customers, and to get his approval on the innovations within Ritz is a testimony to the fact that it actually is a mass product. The move reflects our focus on the end-users and their comfort."

"Ritz project is a fitting tribute to the ‘Year of Innovation’ where the UAE’s leadership is looking at stimulating innovation and technology to fuel the country’s economic growth as we move forward and I believe, such innovation will help stimulate the pent-up demand and convert tenants to home-owners in future," he added.-TradeArabia News Service