UAE developer to use space saving technology in new project

This content was originally posted in 7DAYS UAE website at: UAE developer to use space saving technology in new project A Dubai-based property dealer has brought a new technology into the Middle East market with the aim of offering luxury apartments at affordable prices. Danube Properties will be launching the system in its new project The Ritz, a 28 million sqm development in the Al Furjan neighbourhood near Jebel Ali. With the help of the tech, a one-bedroom apartment can easily be converted to two bedrooms with a wall cabinet bed and collapsible door for privacy. “These flats will be perfect for small families who require a two-bedroom apartment but cannot afford one,” said Rizwan Sajan, Founder and Chairman of Danube group. Using the system, a sofa-bed is installed in the living room with the bed tucked into the wall as part of the interior decor. The bed can be released and lowered to the floor at the touch of a button and is ready to sleep in. Additionally, collapsible doors provide an easy solution for privacy. The lowest rate for buying a studio in The Ritz – which will offer 450 fully-furnished apartments including 180 studios, 135 one-bedroom and 135 two-bedroom apartments – comes in at Dhs430,000. This includes a 1 per cent monthly payment plan to buyers who can pay 52 per cent of the total value before possession. “We are targeting customers who are paying rental by offering an affordable property,” said Sajan. “The rentals over here as compared to the property price are very high – 10 to 12 per cent while in other big cities it is just 2.5 per cent. Our idea is to give people a long-term solution. If you have a family of four and cannot afford a two-bedroom, this is the perfect option.” This new addition will be a game changer in the property market, said Sajan. “There are no affordable luxury apartments and this trend of a convertible room is very common in Europe. It is definitely something that will catch on with people offering an affordable segment with space innovation. The main aim is to provide people of Dubai affordable solutions.” Bookings for these apartments are now open to the public and are expected to be ready for handover by the middle of 2017. mahak@7days.ae Read the original story at: UAE developer to use space saving technology in new project