A new residential project is among several thrilling new developments for the JLT community.
A partnership between DMCC and Danube has resulted in the development of 1,200 new residential units, amounting to a USD 545 million investment in the district. This collaboration follows the successful sale of Viewz residential units, marking the initial venture between the two in JLT’s Cluster K. The ongoing development of its districts remains a top priority for DMCC, playing a pivotal role in attracting increased levels of foreign direct investment (FDI) to Dubai.
DMCC, the leading free zone and Government of Dubai Authority for commodities trade and enterprise, has collaborated with Danube Properties to introduce a new residential project to the flourishing Jumeirah Lakes Towers (JLT) district.
Consisting of twin towers spanning 65 storeys, the development will add 1,200 residential units to JLT, covering a total built-up area of 1.7 million square feet and representing a development value of approximately USD 545 million (AED 2 billion).
Currently in the design phase, these new residential towers will be positioned adjacent to DMCC’s Uptown Dubai district, reinforcing JLT’s status as a highly sought-after mixed-use community in the emirate.
Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer of DMCC, stated: “The demand for premium residential properties within the JLT community has reached unprecedented levels, as evidenced by the remarkable success of Viewz, our initial collaboration with Danube, which has been fully sold. With a community exceeding 100,000 individuals, JLT has emerged as one of Dubai’s most popular districts, offering a comprehensive array of amenities for visitors, businesses, and residents alike. We are delighted to partner with Danube once again as we continue to shape and drive the evolution of JLT, while enhancing the high-quality residential offerings for our growing community.”
Rizwan Sajan, Founder and Chairman of Danube Group, commented: “As a rapidly expanding private real estate developer in the UAE, we are consistently seeking prime plots in strategic development zones. This partnership with DMCC enables Danube Properties to elevate the attractiveness of our upcoming project, providing investors and homebuyers with the opportunity to leverage future value appreciation due to JLT’s prime location and the support of DMCC.”
This collaboration follows the successful launch of another DMCC-Danube project in January, Viewz, located in Cluster K, with a development value of AED 1.4 billion. Both towers of this development have been completely sold out, underscoring the ongoing demand for premium property offerings throughout JLT.
In 2023, DMCC joined forces with five leading property developers to introduce six dynamic commercial and residential real estate projects within its JLT and Uptown Dubai communities. The ongoing development of these districts remains a top priority for DMCC, as it continues to attract record numbers of new companies to Dubai through its unparalleled business ecosystems and residential communities. Currently, DMCC accounts for 11% of the foreign direct investment (FDI) into Dubai.
