Dubai developer Danube Properties recorded a 78.5 per cent boom in the income of residential gadgets closing year, it announced on Wednesday.
The company offered a complete of one,869 residential units, along with 89 geared up-to-pass-in devices and 1,780 off-plan residences.
The sales fee of the residences offered to remain yr increased by 19.26 per cent to Dhs978m, compared to Dhs820m made through selling 1,047 units in 2017, an announcement stated.
Danube Properties said it had provided Dhs1.6bn worth of construction contracts related to 10 of the 12 projects launched to date.
In 2018, Danube finished construction of 358 residential gadgets while it provided production contracts for 926 units.
The developer had 1,339 units below the tendering stage and a similarly 17 consistent with a cent in the design stage.
Atif Rahman, director, and companion of Danube Properties attributed the growth to the company’s attention on the low-cost housing market.
“Our patron sensitive commercial enterprise technique is paying off. These consequences display that if you have the proper houses on the right vicinity and are presented on the proper fee with the most aggressive fee plan, clients will purchase them.”
The organization said its percentage of the Dubai off-plan sales market rose to 10.6 per cent in 2018, compared to five consistent with a cent in 2017.
The developer additionally multiplied its headcount to 220 final years, up from 151 in 2017, it said.
Part of the Danube Group, Danube Properties released in June 2014 with the Dhs500m Al Furjan task. The organization presently has a development portfolio of 3,680 devices, with a blended price exceeding Dhs3.14bn.
Rizwan Sajan, founder, and chairman of Danube Group stated: “We see robust growth possibilities, and we continue to be completely devoted to the local economy and the real property sector with more assignment launches as we plough ahead.”
Dubai’s property marketplace has visible a stoop within a previous couple of years, with analysts watching for a similar drop in prices this year.
One of the primary reasons for the drop has been over-supply in the marketplace, in conjunction with difficult monetary situations.