Dubai: Danube Properties introduces Elitz 3, a prestigious development worth Dh800 million.

On Saturday, Danube Properties unveiled Elitz 3, a development valued at over Dh800 million. Situated in Jumeirah Village Circle (JVC), this project is adjacent to the ongoing construction of Elitz and Elitz 2 towers. Expected to be completed by the fourth quarter of 2026, these twin towers will ascend to heights of 40 and 46 floors respectively, offering a total of 750 residential units encompassing studio, 1, 2, and 3-bedroom apartments, along with a selection of retail stores. The project boasts an extensive array of more than 40 community, health, and lifestyle amenities, including a health club, swimming pools, sports arena, tennis court, barbecue area, jogging track, and more.

Elitz 3 marks the 24th residential endeavor by Danube Properties and the 9th tower to be introduced in the last 18 months. This latest addition propels Danube's portfolio to encompass 11,529 units across 24 projects, collectively valued at over Dh10 billion.

Rizwan Sajan, Founder and Chairman of Danube Group, expressed confidence in Dubai's real estate market, citing its resilience and appeal even amid global economic challenges. The launch of Elitz 3 comes shortly after the successful unveiling of Elitz 2 at JVC.

Dubai's real estate market has demonstrated remarkable growth, with a surge in transactions, surpassing previous annual records. In the first half of the year, 60,440 real estate transactions were recorded, amounting to Dh177.3 billion. Sajan emphasized that real estate has become a significant driver of Dubai's economy, attracting both domestic and foreign investment.

Elitz 3 offers a variety of residential units, starting from Dh699,000 for a studio apartment. A standout feature is the innovative 1% monthly payment plan, which commences after the initial deposits, enhancing affordability and attractiveness for prospective homeowners.

Danube's approach involves delivering homes midway through the payment plan, enabling buyers to occupy their apartments after covering 65% of the property's total value. This arrangement provides homeowners with the option to save on rent or allocate equated monthly installments (EMI) from rental income.

The developer follows a sequential strategy of launching, selling, and constructing projects. Eleven projects have already been delivered, while others are progressing through various construction stages. In the current year, three towers—Wavez, Jewelz, and Olivz—are slated for delivery, and several projects launched in 2022 and 2023 are ahead of their construction schedules.

Recently, Danube solidified an agreement with Dubai Land Department to expedite the provision of Initial Sale Contracts (Oqood) to property buyers.