Danube Properties, one of the leading Dubai developers has signed a contract with Cast Construction company for construction of Jewelz, a new affordable residential development in Arjan.
According to the developer, the design and architecture of the Jewelz is subjected to the Danube’s general strategy aiming at a maximum increase of living space indoor, while 50 per cents of the outdoor space will be given to open green landscaped grounds.
Amenities at the Jewelz include a health club, a swimming pool, a jogging track, barbecue zone, badminton court, tennis court and a high-tech safety system.
Ridhwan Sajan, Founder & Chairman of the Danube group, said: “Real estate in Dubai remains one of the most profitable investment opportunities globally. Our company is committed to completing all our projects in a timely manner, so the signing of the main construction contract for Jewelels within seven months after the start of the project reflects our determination to provide our customers with quality housing in the shortest time possible.”
He also added that Danube usually holds a tender for the construction of a current project just before the launch of the next one. Thus, we should probably expect an announcement of a new project by Danube in the nearest future.
Jewelz, the construction cost of which will be approximately USD 81 million, is planned to be completed by the first quarter of 2020.
Investors interested in affordable properties can expect to get up to 16.8 per cent return on investment when buying property at Jewelz. The first payment complies just 46 per cent of the whole value of the apartment, and the remaining amount can be paid in 1 per cent per month. At the same time, the project will be completed on time, that is, by 2020, even if 52 per cent of the apartments remains unsold or unpaid.
The Jewelz offers furnished apartments with the average cost about AED116,000 psf. A studio in Jewelz is available at AED465,000, while a one-bedroom apartment will cost AED750,000, and a two-bedroom residence will can cost up to AED1 million.
Meanwhile, the average rental price for studios in Arjan, where the Jewelz is situated today is about AED42,000 per annum. Therefore, the remaining mortgage amount can be paid almost entirely through rental returns (around 7-8 per cent of annual income), and you still will get about 16.8 per cent of the rental income.
IMEX Real Estate can offer you a range of affordable housing projects in Dubai from different developers, including Danube, on extremely favorable payment terms with a high level of return on investment. Please, don’t hesitate to contact us at:
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