Today's Edition
A. SREENIVASA REDDY (ABU DHABI)
The timing is right for Danube Properties to enter the Abu Dhabi real estate market, said Rizwan Sajan, Founder and Chairman of Danube Group, in an interview with Aletihad.
The Dubai-headquartered real estate company recently signed a land purchase agreement with AD Ports Group valued at an estimated Dh840 million.
“We studied Abu Dhabi’s long-term growth plans, economic diversification, and infrastructure development, we felt the timing was right to enter the market,” Sajan said, days after signing the deal with the Abu Dhabi government entity.
The project will involve the development of a major residential and mixed-use community within KEZAD Abu Dhabi’s Town Centre, a strategically located district. The transaction covers approximately one million square metres — a 1.0 square kilometre plot within the broader 16 square kilometre KEZAD Town Centre.
Danube is a well-recognised name in Dubai’s real estate market and even has a Metro station named after its brand, reflecting its strong presence in the emirate’s property landscape.
“This is our first project in Abu Dhabi, and it is a very deliberate and strategic step for us after building a strong foundation in Dubai over the years,” Sajan said.
Under the agreement, Danube Group is expected to make a 10% down payment of the Dh840 million land value, with the balance to be paid over a four-year period, according to details disclosed at the time of signing.
Sounding upbeat about the company’s maiden Abu Dhabi venture, Sajan said: “With the growth projected for KEZAD and its surrounding ecosystem, we are confident this move will create long-term value for residents and investors alike.”
When asked about the project timeline, he said: “At this stage, the project is very much a work in progress, with planning and design underway. We are being extremely thoughtful about every aspect of the development. While I cannot share specific timelines yet, I can say that we will be announcing something unique and significant very soon.”
He described the development as “a unique, master-planned community, unlike anything we have done before. It will feature our signature offering of more than 40 lifestyle amenities, designed to create a complete living environment rather than just residential buildings.”
On the investment size, Sajan said the development would be a multi-billion-dollar master community. “While it is still early to disclose precise figures, the overall investment highlights our confidence in the emirate’s growth and in the future demand for well-planned, integrated communities,” he said.
Highlighting the project’s location, Sajan noted: “KEZAD’s location is one of its strongest advantages. Our target audience includes professionals and business owners working within the KEZAD ecosystem, as well as residents from main Abu Dhabi and Dubai who are looking for well-connected, thoughtfully planned communities.”
The development, he added, is designed to appeal to both end users and long-term investors from both the emirates.
Danube Properties is known for its groundbreaking 1% payment plan. Established in 1993, the company has launched 40 projects to date, with 20 successfully delivered and the remainder in advanced stages of construction, according to a recent press release.
