Danube Properties becomes one of the first real estate developers to process on-site Initial Sale Contract instantly
Date: Dubai, UAE, May 24, 2023
In a historic development, Danube Properties, the UAE-based affordable housing pioneer and one of the most dynamic private real estate developers, today signed a landmark agreement with Dubai Land Department to deliver on-site Initial Sale Contract (Oqood) almost instantly.
Once the necessary processes are completed, Oqood will be delivered instantly to Danube property buyers as compared to a longer standard process – saving time, hassle, and steps for investors – offering the highest level of customer happiness.
The agreement reflects Dubai Land Department's growing confidence and trust in Danube Properties – which has emerged as one of the fastest-growing real estate developers having launched and sold six projects in a year from January 2022.
The move comes as Dubai Land Department - Real Estate Registration Sector - strengthens its service delivery to real estate buyers and will go a long way in strengthening investor confidence in Dubai's real estate sector which has seen property transaction value jump 76.5 percent to Dh528 billion last year, compared to Dh300 billion in 2021.
Majid Saqr Abdullah Al-Marri, Chief Executive Officer of Real Estate Registration Sector at Dubai Land Department, said, the move is in line with Dubai Government's vision to offer the best and most seamless customer experience in real estate.
“Dubai Land Department has been improving ways to make property transactions seamless and more efficient with the use of the latest technologies. This agreement with Danube Properties reflects our willingness to take our services to the customers' doorsteps and fingertips. Instead of property buyers coming to us, we are going to them – through real estate developers – at their offices,” he, said.
“This is in line with the directives of HH Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council – who are constantly guiding us to innovate, evolve and excel in our service delivery to strengthen the customer experience.”
Rizwan Sajan, Founder and Chairman of Danube Group, expressed his gratitude to His Excellency Sultan Butti Bin Majren and Dubai Land Department for extending such facilities to Danube Properties.
“In other countries, developers and property buyers spent days and months to secure a property title deed due to cumbersome processes. The government and Dubai Land Department have remained at the forefront of government service innovation that simplifies government processes by delivering the services at our fingertips.”
“This new landmark initiative reflects the forward-looking and proactive vision of the Dubai Land Department to reach out to the property buyers and developers – who can now get their Oqood registered onsite and almost instantly. This is unheard of in this part of the world and makes Dubai Land Department one of the smartest land registries in the world.”
Danube Properties launched six projects, worth Dh3.42 billion from January 2022 to January 2023. The developer's current development portfolio includes 22 projects and 10,713 units, with a combined sales value exceeding Dh10 billion.
In 2023, the developer launched two large residential projects in association with two luxury brands. The recently launched Fashionz is Dubai's first FashionTV branded residence. In January, it launched and sold out the iconic Dh 2.05 billion project - Viewz at the Jumeirah Lakes Towers (JLT). The project will come with Aston Martin furnishings and will redefine luxury living through. In 2023 only, Danube Properties has already launched two luxury residential projects in just 4 months.
Danube Properties offers homeowners a 10-year Golden Visa – especially those who qualify as per the investment criteria – subject to government approval. As one of the most successful developers in the UAE with the highest launch-to-delivery ratio, Danube Properties has recently delivered Bayz, Glamz, Starz, Resortz, Elz, and Lawnz while it prepares to deliver three more projects this year.
Recently, Danube Properties unveiled Fashionz, a FashionTV-branded residential project. Located in the heart of Dubai, Fashionz by Danube is a luxurious residential tower featuring 700+ apartments spread over 65 floors. Each apartment is designed to embody the sophistication and glamour associated with the extravagant FashionTV brand. Fashionz is Danube's commitment to affordable luxury for the residents of Dubai with apartments starting at Dh 850,000.