UAE-based boutique real estate development company Aurora Real Estate Development LLC has completed Lyra, its new residential building.
Positioned between Dubai Silicon Oasis, Dubai International Academic City and International City, the 112 rental-only apartment building targets the growing demographic of young expatriate professionals and students in Dubai.
Lyra is Aurora’s second successful delivery since its handover of Hyati Residence.
The AED85 million project was carried out as a collaborative effort of the wider ECC Group and its associated companies.
Cian Farah, CEO of Aurora Real Estate Development said: “The growing demand for affordable living space is indicative of current market trends, and we are confident that Lyra’s offering will establish a new industry benchmark through its exemplary quality in both design and finishes.
Lyra comprises 36 studios, 65 one-bed and 11 two-bed apartments and 4 retail units, with a reception-styled entrance.
The 112 apartments are spread across nine storeys of accommodation and includes a roof terrace with a variety of amenities accessible to residents.
Farah concluded: “Projections over the next several years indicate that there will be an annual increase in the number of students studying in the UAE with the new five-year student residency visa being proposed and a 10-year visa for exceptional students. We envision that this trend will continue as the UAE continues to build its infrastructure catering to long-term residents and the growing demographics of students and young professionals.”
ECC was appointed as the main contractor for Lyra, Abanos as the Interior fit-out and joinery subcontractor, Prime Metal Industries (PMI) as the steel and aluminium subcontractor and CoreServ, the group’s facilities management arm undertaking the ongoing maintenance and upkeep of the apartment building.