Skip to content Skip to Search
Skip navigation

Danube’s new $218m housing project to be ready by 2026

Elitz 3 Danube Properties 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.

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. 

Latest articles

Amanat's listing represents the third education IPO in the UAE over the past two years

Amanat to list its education platform

Amanat Holding, an investment company in Dubai, has announced plans to list its education platform. The move will be the third education-related initial public offering in the UAE in the last two years, following the listing of Dubai’s Taaleem in 2022 and Abu Dhabi’s Alef Education earlier this year. Amanat, which specialises in healthcare and […]

ADQ's holdings include Abu Dhabi National Energy Company (Taqa) and are worth almost $200 billion

ADQ: how Abu Dhabi’s ‘baby’ fund is finding its feet

Abu Dhabi sovereign wealth fund ADQ may be the younger, smaller sibling of ADIA and Mubadala but there are no signs of an inferiority complex as it executes billion-dollar deals at home and overseas. Most notable was the $35 billion agreement signed with the Egyptian government in February this year to develop Ras El Hekma, […]

Suriname oil

QatarEnergies buys into Suriname oil expansion

The state-owned giant QatarEnergy has signed a deal with US oil company Chevron to acquire a 20 percent interest in a production-sharing contract for an offshore concession in the South American country of Suriname. Chevron will keep a 40 percent interest in Surname’s block 5, as will Paradise Oil, an affiliate of Suriname’s national oil […]

Rakbank

Rakbank plans first bond to fund social projects

The National Bank of Ras Al Khaimah (Rakbank) is planning to launch its first social bond issuance, a news report has said. The Abu Dhabi-listed bank is seeking bids for the five-year benchmark-sized dollar-denominated bond, Reuters reported. The initial price was set at 170 basis points over US Treasuries, with the final pricing expected on confirmed […]