Danube Properties awards Dh381 million worth of construction contracts

Danube Properties, a major Dubai-based property developer, has awarded five construction contracts with a combined value exceeding Dh381 million in — a year it started delivering homes — part of the Dh2.84 billion portfolio.
These contracts include a Dh221 million main construction agreement recently awarded to Naresco Contracting LLC to deliver Miraclz Tower near Miracle Gardens at Arjan that will host 599 units including 591 apartments. The 28-month contract will see the project delivered by the end of 2019.
Owned by Abdulla Abdulkarim Al-Arif, Naresco Contracting LLC has been in the construction industry since 1986. A member of Abdulla Al-Arif Investment, Naresco is now in the process of completing Glitz Residence 3 for Danube which is getting ready for handover in a few weeks’ time.
Danube Properties has also awarded a Dh146 million contract for the main construction package for the Resortz project to Dubai Walls Construction.
The 17-month contract will see the project ready for occupancy by the second quarter of 2019. Resortz will host 444 units including 419 apartments, 25 retail outlets, landscaped environment that appears more like a five-star resort, than a residential compound.
Prior to that, Danube Properties has awarded a Dh10 million piling and shoring contract to Atlas Foundation for Miraclz Tower and a further Dh4 million piling and shoring contract for Resortz project.
Atif Rahman, director and partner of Danube Properties, said: “These construction contracts reflect our deep commitment to our largest stakeholders — our valuable property buyers and investors — who have put their trust and hard-earned life savings in our projects to receive the keys to their dream homes.
“Since launching its first project in 2014, Danube Properties has been able to deliver two projects involving 302 residential units, worth Dh270 million — part of the company’s Dh2.84 billion-strong portfolio.
In the next few weeks, we are preparing to deliver 525 residential units, including 171 townhouses and 354 apartments.
“As a committed property developer, we see ourselves as a custodian and responsible for the delivery of their dream home on time and with the promised quality and facilities. Construction contracts are part of the process and we try to constantly challenge ourselves on timely delivery and with quality beyond the buyers’ expectations.
“We work for our stakeholders — our buyers — and there is nothing like seeing the smile of a happy customer. We strive to achieve that.”
Danube Properties, part of the diversified conglomerate Danube Group, has launched nine residential projects, of which two have been delivered, two are getting ready for delivery while four others are at various stages of construction and one in tendering stage.
The company has one of the fastest development-to-delivery ratio in the region’s real estate market where timely delivery of properties remains a major challenge. That way, Danube Properties’ performance in construction and delivery is helping strengthen buyers’ trust in real estate.