Danube Properties has sold 76% of the first phase of its $150m (AED550m) Lawnz project in three days.
The first gated complex at International City, construction of the project is expected to start in the third quarter of 2018, and is due for completion in 2020.
The Phase I of the project consists of 515 residential units, comprising studio, one-bedroom and two-bedroom hall apartments with prices starting from Dh290,000, Dh499,000 and Dh699,000 respectively.
Lawnz offers 1,032 residential units, ranging from studio, one and two-bedroom apartments. It is Danube Properties’ 11th project and comprises of 1,064 units, taking the company’s portfolio to 4,744.
Rizwan Sajan, Founder Chairman of Danube Group, said: ““The huge response to Lawnz reflects the fact that there is no shortage of buyers for the right quality property to be built at the right location with the right pricing and the right payment plan.”
“On top of that, our attractive and industry trend-setting 1 percent per month payment ensures the delivery of the property after payment of 51 percent – meaning that the customer could either move in to the apartment after paying 51 installments and save the rents to pay for the rest of the 49 installments.”