Danube Properties awards main construction contract for the Dh450 m Bayz to RAQ Contracting

Dubai-based developer Danube Properties appoints RAQ Contracting LLC to build the Dh450 million Bayz project in Business Bay, raising the total value of its construction contracts to Dh1.59 billion

News Highlights

1. Danube awards Dh190 million contract to RAQ Contracting to build the Bayz project

2. The combined value of Danube Properties construction contracts exceeds Dh1.59 billion

3. Danube Properties delivered 831 residential units worth Dh1.12 billion including 171
townhouses within Dreamz project worth Dh500 million by March 2018

4. Danube Properties portfolio exceeds Dh3.74 billion involving 4,744 units in 11 projects
Dubai, UAE

Danube Properties has awarded a Dh190 million contract to RAQ Construction LLC, a Dubai-based
civil construction company, for the main construction works of Bayz located at a site in Business Bay
overlooking Al Khail Road.

The Dh450 million Bayz project offers 456 fully-furnished apartments, ranging from studio, one and
two-bedroom apartments. The project is attractively located on a plot on Al Khail Road – a major
highway in Dubai – located within close proximity to Burj Khalifa, the world’s tallest tower.

The 29-storeyed project, launched in May 2017, is scheduled for delivery in 2021. This is Danube’s
only project in Business Bay. The project has already been sold out to buyers and investors.

“We have so far awarded contracts for ten out of 11 projects launched so far. The awarding of the
construction contract reflects our determination to deliver projects on time. It also strengthens our
reputation as a developer that is committed to on-time construction and delivery,” Rizwan Sajan,
Founder and Chairman, of the Danube Group, says.

“Of the 11 projects launched in just over four years, Danube Properties has delivered four of them to
customers. This shows our customer-centric development approach.”

At launch, Danube Properties offered the lowest price in the Business Bay area and continued with its
famous 1 per cent payment plan, starting at Dh6,490 per month.

The Bayz tower comes with amenities including swimming pool, health club and a kid’s play area cum
party hall. When delivered, each fully-furnished apartment will be accompanied with a modular kitchen,
exquisite Spanish tiles, and top-notch finishes. Furthermore, every home will include a European
technology enabled convertible sofa that makes way for a bed- tucked into the wall.

Atif Rahman, Director and Partner of Danube Properties, said, “The latest construction contract
raises our construction contract value to Dh1.59 billion across ten projects and reflects the character
and reputation of Danube Properties. Our delivery-to-launch ratio is one of the best in the real estate
development industry in the GCC and I would want to maintain that.

“With a solid construction and delivery record, Danube Properties has helped strengthen customer and
investor confidence and their faith in the real estate sector of the UAE and Dubai. After careful
evaluation of all tender bids, I decided to appoint RAQ Contracting LLC to carry out the construction of
Bayz – our key project in Business Bay.”

“As a quality-conscious developer, we are very selective in choosing the contractor to deliver
customers’ dream home. In this endeavour the contractor becomes a key stakeholder and I ensure
selection of the best available partner to deliver nothing less than the best.

“I am extremely pleased with all our ongoing projects and the construction progress. I am very
confident that our partnership with RAQ Contracting will set a new benchmark of construction quality.”

Rami Al Qaisi, Managing Director of RAQ Construction LLC, said: “We are very pleased to
partner with Danube Properties in developing Bayz Tower. As a developer, Danube Properties is very
particular in every aspect of construction activities including choice of material, quality of construction,
finishing, facilities, amenities and timely delivery. We have gone through one of the most stringent
contracting process and I am pleased to say, we have a shared vision in Bayz – to offer the best
homes to the customers.”
RAQ is a pre-designed, design and build and steel-structure turnkey main contractor specializing in
executing construction projects of various categories. Established in 2013 as a main contracting
company, RAQ Contracting is deemed to be engaged in diverse commercial, residential, recreational
and other projects.

RAQ Contracting has so far delivered 25 projects and has more than 700 people on its payroll.
Danube Project Development Fact-Sheet

Danube Projects Residential Units Sales Value Status

Dreamz                    171 Townhouses        Dh500 million       Delivered
Glitz Residence I       151 Units                  Dh135 million       Delivered
Glitz Residence II      151 Units                  Dh135 million       Delivered
Glitz Residence III     358 Units                  Dh350 million       Delivered
Starz Tower              454 Units                  Dh300 million       Delivery in 2018
Glamz Residence       426 Units                  Dh270 million       Delivery in 2018
Miraclz Tower            599 Units                  Dh400 million       Under Construction
Resortz Tower           444 Units                  Dh300 million       Under Construction
Bayz                        463 Units                  Dh450 million       Tendering Stage
Jewelz                     463 Units                   Dh300 million       Launched
Lawnz                      1,064 Units               Dh550 million        Launched
Total 11 Projects       4,744 Units               Dh3.69 billion        Construction/ Delivery