Danube Properties has announced that its latest project in Dubai – the Dh550-million ($150 million) Lawnz – was sold out within five days of its launch.

Lawnz, located in International City Phase One, offers 1,032 residential units and various amenities including a 3.8-acre promenade featuring a canal, sunken plaza, a fully-equipped health club, swimming pool, steam and sauna room, multi-purpose hall, jogging track, barbecue deck, badminton court, multi-purpose court, outdoor cinema and a high-tech security surveillance system.

The project’s first phase, which was launched on June 20 created a massive interest amongst home buyers, who see great value in the Lawnz project, a gated community that provides all luxury community facilities and services – at a very affordable price that starts from Dh290,000, according to Danube Properties.

 Among the residential units, 50 per cent of the units are studio apartments while 40 per cent are one- and 10 per cent are two-bedroom apartments.

On the success, Rizwan Sajan, the founder chairman, says: “The sell-out of the Lawnz in the hot summer months – a very quiet and low season for business – is a demonstration of the public faith in the Danube brand and customers’ confidence in our ability to deliver quality homes at an affordable price and on time, which is very crucial for the end-users who invest their life savings with us.

“This is also a strong testimony of the fact that there is no shortage of buyers if the properties are offered at the right location, right price, right payment plan and the right delivery schedule.”

“Our industry-trendsetting one per cent payment per month, that helps the property buyers to move into their homes after paying only around half the price of the property – is a key to the success of our real estate projects,” he adds.

“This payment plan – the first in the Middle East by a private developer – is an ideal solution for the UAE’s middle income households who were priced out by luxury developments,” he comments.

Lawnz, the group’s 11th project raises its portfolio to 4,744 units with a development value of over Dh3.7 billion.

 Construction of the project is expected to start this year with completion in 2020.

“The building design and architectural aesthetic was created to maximise the living space while delivering the convenience of community living,” explains Sajan. “The project dedicates 50 per cent space to open areas with an emphasis on greenery.”

 Danube has delivered 831 properties including 302 units within Glitz Residences 1 and 2 and 358 in Glitz Residences 3 as well as 171 townhouses at Dreamz project until March 2018. It will deliver a further 870 units this year.