Dubai Multi Commodities Centre (DMCC) has partnered with Danube Properties to bring a new residential project to its thriving Jumeirah Lakes Towers (JLT) district.
DMCC is the world’s flagship free zone and Government of Dubai Authority on commodities trade and enterprise.
The 65-storey twin towers will bring 1,200 new residential units to JLT across a built-up area of 1.7 million square feet, representing a development value of approximately $545 million (AED 2 billion). Currently in the design phase, the new residential towers will sit adjacent to DMCC’s Uptown Dubai district, bolstering JLT’s status as one of the most popular mixed-use communities in the emirate.
Ahmed Bin Sulayem Executive Chairman & CEO DMCC
“Demand for premium residential property across the JLT community is higher than ever, as we have seen with the resounding success of Viewz, our first project with the Danube which is fully sold. Boasting a community of over 100,000 people, JLT has become one of the most popular districts in Dubai thanks to its truly complete offering for visitors, businesses, and residents. We are proud to partner with Danube for a second time as we continue to shape and drive the transformation of JLT and enhance the high-quality residential offering for our expanding community.”
Rizwan Sajan, Founder and Chairman of Danube Group, said that, “As a rapidly expanding private real estate developer in the UAE, we are constantly seeking 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 thanks to JLT’s attractive location and the support of DMCC.”
According to the statement, this partnership follows on from another DMCC-Danube project launch in January, Viewz, which sits in Cluster K. The two high-rise towers of the development have been fully sold, demonstrating the continued demand for premium property offerings across JLT.
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