Dmcc and Danube Properties Join Forces to Construct Aed2 Billion Towers in Jumeirah Lakes Seven Luxury Real Estate

DMCC and Danube Properties join forces to construct AED2 billion towers in Jumeirah Lakes

  • Jan 23, 2024 - 2 min read

DMCC and Danube Properties are partnering for the development of new residential towers in Dubai’s Jumeirah Lakes Towers, with a total investment of AED2 billion.

The project will feature two 65-storey towers, comprising a total of 1,200 residential units and covering a built-up area of 1.7 million square feet.

DMCC, the free zone authority in Dubai, has teamed up with the prominent private developer Danube Properties to introduce a new residential project in the Jumeirah Lakes Towers district.

This development will witness the construction of two 65-storey towers, delivering 1,200 residential units with a combined built-up area of 1.7 million square feet.

With an estimated value of around $545 million (AED 2 billion), the project will be situated adjacent to DMCC’s Uptown Dubai neighborhood.

The Dubai residential real estate market is expected to experience significant growth in 2024, with a projected 20% increase in property transactions and a 17% rise in market volume.

Ahmed Bin Sulayem, Executive Chairman and CEO of DMCC, stated, “The demand for premium residential property in the JLT community is higher than ever, as demonstrated by the resounding success of Viewz, our initial project with Danube, which is fully sold.”

“With a community of over 100,000 people, JLT has become one of the most popular districts in Dubai, offering a complete experience for visitors, businesses, and residents. We are delighted to collaborate with Danube for a second time as we continue to shape and drive the transformation of JLT, enhancing the high-quality residential offering for our expanding community,” he added.

New Residential Towers Announced in Dubai’s Jumeirah Lakes Towers

This recent collaboration follows the success of Danube and DMCC’s previous Viewz project, consisting of two fully sold towers.

“As a rapidly expanding private real estate developer in the UAE, we are continually searching for prime plots in strategic development zones. This partnership with DMCC empowers Danube Properties to enhance the appeal of our upcoming project, providing an opportunity for investors and homebuyers to capitalize on future value appreciation due to JLT’s attractive location and the support of DMCC,” said Rizwan Sajan, Founder and Chairman of Danube Group.

In 2023, DMCC collaborated with five developers on six commercial and residential projects throughout JLT and Uptown Dubai.

The authority’s ongoing development of these areas contributes to a record level of foreign investment in Dubai, with DMCC itself accounting for 11 percent of the emirate’s foreign direct investment.

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