Dubai — Mubasher: Danube Properties on Sunday announced that it has awarded an AED 149.5 million ($40.6 million) contract to Dubai-based Cast Construction for main construction works of its residential project Jewelz.
Located at Arjan near Miracle Gardens, the AED 300 million ($81.6 million) Jewelz is Danube’s tenth housing project and offers 463 residential units, ranging from studio, one and two-bedroom apartments, according to an official statement.
The project, which was launched in March, is set for completion in the first quarter of 2020, the UAE-based real estate firm.
The development features a fully-equipped health club, swimming pool, steam and sauna room, multi-purpose hall, jogging track, barbecue deck, badminton court, paddle tennis court and a high tech surveillance system for the protection and security of the residents, according to the statement.
“As a developer we remain committed to the Dubai real estate market. Through our successful property launch and construction delivery we want to reinforce the belief in the real estate industry of Dubai which remains one of the most lucrative real estate investment opportunities worldwide,” said Danube Group founder Rizwan Sajan.
The building design and architectural aesthetic was created to boost Danube’s design strategy, which helps maximise the living space while delivering convenience of community living. With an emphasis on greenery and landscapes, the project earmarks 50% space to open areas.
Atif Rahman, the director and partner of Danube Properties, said the latest construction contract has raised the firm’s construction contract value to AED 1.4 billion across ten projects.
For his part, Yusra Saleh Al Yafei, the managing director of Cast Construction, said that his company has “a proven track record of embarking and successfully accomplishing construction projects over the last two decades.”
