Construction Week Middle East reveals the Top 50 GCC Developers 2022 list. During the process of producing the list, Construction Week Middle East’s editorial team contacted developers from around the GCC region, and sent out questionnaires to learn more about their accomplishments in the past 12 months.
The list was finalised based on the following criteria: value of projects completed; value of projects under construction; value and/or size of the land bank; value of new projects launched (for developers with multiple projects, combined value was considered); and value of new contract awards.
The final ranking of 2022 was based on publicly available information about the companies, responses to the questionnaire, and the editorial team’s combined assessment of each company’s achievements in the past 12 months.
UAE-based Danube Properties, the property development arm of Danube Group, founded and chaired by Rizwan Sajan, has been busy over the past 12 months with the launch of two of its most anticipated projects.
In May 2022, the developer launched Gemz, redefining luxury living in the heart of Al Furjan. A $95.3mn residential project with pyramid-shaped architecture, apartments within Gemz have been designed to include convertible layouts. When completed, Gemz will have a built-up area of 49,238m2, and will be developed at a plot area of 9,383m2. The 14-storeyed project will host 270 apartments, including 24 studios, 74 1BHK units, 114 2BHK units, and 42 3BHK apartments, with 16 duplexes.
Adding another project under its belt, the Dubai-headquartered developer launched $81mn Pearlz in Al Furjan area in March. A residential project offering 1,000 residential units and a number of retail and recreational facilities.
The launch of Pearlz came five months after Danube Properties revealed the $129.3mn Skyz project in Arjan in October 2021. One of Danube’s ongoing projects is the Wavez Residence, located in Liwan, the township in Dubai features 414 apartments which includes 338 studios and 76 one-bedroom units. The 8,573m2 development consists of two ten-storey buildings and will provide amenities including swimming pool, jacuzzi, jogging track, kid’s play area, and a health club.
Earlier this year, the developer told Construction Week Middle East that in addition to reinforcing the local market share in Dubai, it looks to continue diversifying its business throughout 2022.
The developer is planning to start property development business in two new countries and an addition of a new vertical in Dubai as part of its forward integration model.
During the launch of its most recent project, Sajan said that backed by its strong financials in the building materials industry, Danube is making great progress on its existing projects with a majority of them “moving closer to completion”.
Earlier this year, the developer launched Opalz, a high-rise residential development, located in close proximity to Dubai Science Park. Opalz features two high-rise towers (Tower A and Tower B) comprising studio, 1 BHK, 2 BHK and 3 BHK Duplex.