Danube Properties, a leading UAE-based real estate developer, has sold out 75 per cent of the Bayz project at Business Bay in Dubai, within four months of the project’s launch.

Bayz was launched on May 14, 2017, during Ramadan.

“I am happy to announce that we have sold out 340 apartments of the 456 residential units of Bayz within four months of the project’s launch,” Rizwan Sajan, founder chairman of Danube Group and Danube Properties, said at the sidelines of Cityscape Global Exhibition that is taking place from September 11-13 at the Dubai World Trade Centre in the UAE.

“Selling 75 per cent of a project during Ramadan and summer holidays is not an easy matter and it reflects the success of Danube Properties’ teamwork and our strong appeal of the benchmark one per cent monthly payment scheme to the end-users – who can now look forward to buying a property in Dubai with their limited monthly household income.

“Our success in selling out projects – one after the other – reflects the growing demand for affordable luxury homes, the game-changing one per cent monthly payment plan and timely delivery of properties. All these factors help families with an average household income of Dh15,000-Dh20,000 ($4,080-$5,444) to plan and buy their dream homes in Dubai,” he added.

Studio units in the 29-storey tower, with views of Burj Khalifa and Dubai Canal, have been priced at Dh650,000 ($177,000) and come with a monthly payment plan of Dh6,490 ($1,766). This is the lowest price per unit within the Business Bay – the new business district of Dubai, a statement said.

Construction of the project – which is at the tendering stage, is scheduled for completion in 2019. Each of the Bayz apartments comes fully furnished with marble flooring in the living and dining area, modular kitchen, exquisite Spanish tiles, and top-notch finishes. Furthermore, every home will include a European technology-enabled convertible sofa that makes way for a bed - tucked into the wall.

The announcement comes within less than a month after the developer completed Glitz I and Glitz II with a combined development value of Dh350 million ($95.27 million) within two years of the sales launch.

Owners of all the 302 sold-out units will soon start taking deliveries of their units as Danube prepares to welcome its customers.

 Since making its foray in real estate market in 2014, Danube Properties has launched 3,217 units (including 3,165 residential units and 52 retail units) split into eight projects.

All its existing projects are expected to be delivered by the end of 2019, as per the development plan.

“The most important aspect of property development business is to be able to deliver projects on time, on budget and with the best quality within that price range to happy customers. Today, I am happy to welcome home owners and families to their freehold homes – developed by Danube,” Sajan said. – TradeArabia News Service