Danube Properties, a major Dubai-based property developer, has announced the delivery of its third project, Glitz Residences 3, at Dubai Studio City.

With a development value of Dh350 million ($95.2 million), the project contains 354 residential units including studio, one- and two-bedroom apartments – all sold out following its launch in 2015, says the company.

With the completion of Glitz Residences 3, Danube Properties will soon start the handover process to customers.

The company last month launched its 10th project, Jewelz, with 463 apartments worth Dh300 million, taking its total development portfolio to 3,628 residential units, worth Dh3.14 billion. Some 300 of the 463 apartments at Jewelz have been sold out to property buyers and investors due to the higher return on investment (RoI) of up to 15 per cent annually (depending on the size of the apartment and pricing).

Rizwan Sajan, the founder chairman of Danube Group, says: “This year will be that of delivery for Danube as we are planning to handover four more projects. With all this, we would have delivered five of the 10 projects launched so far.

“As a developer, our policy is to develop it right and deliver as per promise. We launch a project when the earlier project is sold out and our unique selling points include on-time and on-quality delivery, in addition to the industry-low one per cent monthly payment scheme.”

Danube Properties, which entered the real estate market in June 2014 by launching Dreamz, was also due to deliver 171 townhouses last month, taking the total number of deliveries to 827 units, worth Dh1.12 billion, a third of its portfolio value.

“With these deliveries, we are strengthening public trust on our brand and this way, Danube Properties will reinforce its position in the real estate market,” he adds.

Atif Rahman, the director and partner of Danube Properties, says: “Timely delivery is very crucial for gaining customer satisfaction as we work for our customers and they remain at the core of what we do. The delivery of Glitz Residences 3 demonstrates our ability as a builder and the high-quality finishing tells the level of quality and the attention to details by us.”

“This year, we are delivering Dh1.5 billion worth of projects – the highest in our history,” he adds.