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Danube to float tender for Resortz residential project soon- Chairman
14 March 2017
By Megha Merani
UAE-based developer Danube Properties, part of Danube Group, will tender the main construction of its 300 million dirhams ($81.7 million) Resortz residential project in Dubai in the next few months, the company's chairman said on Tuesday.
The new low-rise residential project will be located in the Arjaan master development.
The tender will be issued after the award of the developer's Miraclz residential project [in Arjaan] in a month's time, Rizwan Sajan told Zawya Projects on sidelines of a press conference.
"As soon as we finish awarding the contract for Miraclz, we will start tendering Resortz, probably within a couple of months," he said.
He said the project would be funded through a mix of sales and equity, adding that it is scheduled for completion in 2019.
Dubai-headquartered Edmac is the consultant for the project, which will span a total land area of about four acres and will comprise of 419 apartments ranging from studios to three-bedroom apartments as well as retail units.
The project’s maintenance charges are budgeted at 12-14 dirhams per square foot, Sajan said.
Danube's real estate portfolio includes 2.2 billion dirhams ($600 million) worth of projects currently under construction. Handover of its first project Dreamz is scheduled to commence this year.
© Zawya Projects News 2017