Danube Properties has awarded a AED 190mn ($52mn) contract to RAQ Construction for the main construction works of its Bayz project in Business Bay.
The 29-storey building comprises 456 fully-furnished apartments, ranging from studio to two-bedroom apartments.
Launched in May 2017, the AED 450mn project is fully sold out and is scheduled for delivery in 2021.
Danube Properties has launched 11 projects to date, four of which have already been delivered, and has awarded 10 construction contracts worth a combined AED 1.59bn.
Rizwan Sajan, founder and chairman of Danube Properties, said: "The awarding of this 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."