Construction Danube’s new $218m housing project to be ready by 2026 By Pramod Kumar August 8, 2023 Danube Properties Elitz 3 is the ninth project to be launched in the last 18 months Danube Properties has launched an AED800 million ($217.8 million) twin-tower housing project in Dubai’s Jumeirah Village Circle, which is expected to be completed in the fourth quarter of 2026. The 40- and 46-storey tower project, Elitz 3, will have 750 units, the Dubai-based developer said in a statement. The new development is the ninth project to be launched in the last 18 months and the 24th residential project by Danube. RAK Properties’ profit surges 245% to $24m in H1 2023 Russians bucking trend in Dubai with bigger, pricier homes Norwegians return to Dubai commercial property sector The new launch will take the total units to 11,529 across the 24 projects with a combined development value of more than AED10 billion. “Dubai’s real estate market continues to defy global economic slowdown due to its dynamism and attractiveness. We see sustained growth soon, which reinforces our firm belief in the market,” said Rizwan Sajan, founder and chairman of Danube Group. Dubai’s real estate market reported a surge in real estate transactions, reaching 60,440 worth AED177.3 billion during the first half of the year. “Real estate is currently the biggest driver of Dubai’s economy that is attracting a large pool of domestic and foreign investment,” Sajan said. The developer will deliver three projects this year: Wavez, Jewelz and Olivz. Work is currently ongoing on the Elitz and Elitz 2 towers in Jumeirah Village Circle. Danube Properties last year launched and sold out five housing projects with 2,099 homes worth AED2 billion.