Dubai: If 2021 had developers in Dubai launch offplan projects with bigger living spaces (even gardens where possible), this year seems to be about gyms, gaming rooms – and private pools. At Danube Properties’ latest project, Gemz, the developer is taking the concept of private pools by quite a stretch.
Of the 270 plus apartments in the building, more than 100 units will come with their own pools, as the developer goes for a wider interpretation to add-ons. “Even in the affordable luxury space, today’s owners are ready to move from common facilities to having their own private ones,” said Rizwan Sajan, Chairman of Danube Group. “Even with creating those 100 odd pools, Gemz will not have a massive built-up area, and the cost of these units will be in the Dh1.2 million and over range. (The top end of the Gemz units are at Dh2.2 million and over.)
Developers are finding that more of today’s buyers fit a much younger profile – 28-32 years - than in the past. This explains the need to offer more lifestyle benefits than those that would typically fit into the confines of an apartment. Top-notch gym and fitness equipment (and regular upkeep) is one, and so are standalone gaming rooms for the twentysomethings.
This is Sajan believes more pools to a building takes add-on features to a new level of need. Located in Al Furjan – which is highly favoured by Danube these days – the Gemz will have its offplan sales start May 28. To attract repeat buyers for its projects, Danube will offer a 3 per cent ‘first-day’ discount to those who have bought from it in the past.
“A lot of buyers checking out properties to buy in Dubai/UAE will be mindful of the Dh2 million property investment value, which would make them eligible for 10-year visas,” said Sajan. “So, owning multiple properties that add up to Dh2 million and more also applies. We are ready to help out owners who are eligible with their investment visas once the government authorities give their clearance.
“First-day buyers also get a chance to pick up fully furnished apartments at the same price – that too acts as a big incentive.”
In the last seven months, Danube had three launches, totalling Dh1.2 billion in development costs. The Gemz will come to Dh350 million. “There will be a couple of more launches we will try and squeeze in this year,” said Sajan. “The offplan market in Dubai is ticking along nicely, delivering a new generation of homeowners.”
In another - slight – positive for developers, the cost escalation on steel and other building material prices have stabilised. Sure, the current levels are still 25-30 per cent higher than what they were in September/October of 2020, but that is still some relief compared with the near constant re-adjustments developers had to make on their expenses throughout last year.
“That does help with the planning, if we see more such stability for the coming months, developers can breathe a lot easy,” the Danube chief added.