Danube Properties Launches Rs 4,000 Crore Project Named After Shah Rukh Khan
A Landmark Collaboration
In an exciting development for Dubai’s real estate market, Danube Properties has announced a new premium commercial tower project with an impressive budget of Rs 4,000 crore. This venture, which carries the iconic name “Shahrukhz,” pays tribute to the renowned Bollywood superstar Shah Rukh Khan, marking a significant moment in the real estate landscape.
Targeting Indian Investors
The primary aim of this new project is to attract even more investment from Indian buyers, who already represent a significant portion of Dubai’s property market. Rizwan Sajan, founder and chairman of Danube Group, highlighted that Indians are the largest group of property buyers in the city. “We expect around 25% of the units to be sold to Indian investors,” he disclosed during a press briefing.
Sajan noted a notable uptick in investments from Indian nationals in recent years, particularly following the Covid-19 pandemic. “Currently, one in every four property buyers in Dubai is Indian,” he stated, emphasizing how the trend is reshaping the market dynamics.
The Allure of Dubai Properties
Several factors contribute to the rising interest from Indian investors in Dubai’s real estate. Sajan explained that key attractions include the absence of income tax, a high level of safety, and world-class infrastructure. Additionally, he pointed out that property prices in Dubai are still quite favorable compared to major Indian cities like Mumbai and Gurugram. “Property prices in Dubai are expected to rise by an average of 15-20% annually in the coming years,” he added.
A Unique Concept in Commercial Real Estate
This project stands out not only for its financial scope but also for its pioneering nature. According to Adel Sajan, Managing Director of Danube Group, this will be the first commercial tower ever developed in the name of a celebrity, making it a groundbreaking endeavor. “There hasn’t been any precedent for a commercial building named after a film star, whether from Bollywood or Hollywood,” he said.
The anticipated 55-storey tower will sit alongside Sheikh Zayed Road, known as Dubai’s premier business district, positioning it for high visibility and accessibility. The developers project that the construction will be completed within three to four years. “We usually deliver our projects ahead of schedule, so we are optimistic,” Adel added.
Danube Properties: A Track Record of Success
Since entering the real estate sector in 2014, Danube Group has successfully launched around 40 projects, with 18 already completed. The company has a clear goal to maintain an ambitious pace, aiming to introduce an additional four to five projects each year. This track record underscores their commitment to quality and timely delivery.
By intertwining Bollywood glamour with Dubai’s burgeoning property market, Danube Properties is not just creating a building; they are crafting a new avenue for investment that appeals directly to the burgeoning community of Indian investors eager to stake their claim in Dubai’s real estate landscape.
This development showcases the evolving nature of international real estate, particularly how cultural influences can create new opportunities. As Dubai continues to attract global investors, projects like “Shahrukhz” may pave the way for more innovative collaborations in the future.
