Danube to step into Real Estate Development

Posted on 10th February 2014

As reported by Gulf News, the building materials company Danube has confirmed its intentions to get into real estate development, with its first project being a Dhs.250-Dhs.500 million mid-tier residential development in the emirate of Dubai.

The location of the project is not yet finalized, however, multiple locations are being considered including Meydan City, Jumeirah Village Circle and Al Furjan. A confirmation is expected by April or May, which could be the time when the project will be soft launched.

Negotiations are ongoing with master developers to acquire a land bank. Once the first project starts rolling, the plan is to mobilize another project within a span of a few months. A separate company will oversee the real estate development.

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