Dubai-based Mashriq Elite Real Estate Development today (October 27) started work on its prime project - Floarea Oasis - at Dubai Land Residential Complex (DLRC), by breaking ground for its fourth residential project in Dubai, adding 257 designer apartments to the housing stock to cater to the surging demand, and complementing the reputation of Dubai as a prime real estate investment destination.

The developer said that Floarea Oasis will be another testament to its commitment to offer affordable luxury residential units that excels in quality and construction standards delivered on time. 

“Floarea Oasis is another milestone project for us and the development’s location within Dubailand adds immense value to it with the potential for rental yields in the range of 8-10 per cent and asset yield of more than 12 per cent in line with the overall exponential growth trend of Dubai’s real estate market,” said Kamran Muhammad, CEO of Mashriq Elite Developments, adding that the project has elicited robust response from investors in the context of the  significantly increasing uptake of off plan properties this year in Dubailand.

The planned handover of Floarea Oasis, which will come up on a plot area of 36,915 sq. ft, will be in the first quarter of 2028. It will offer 129 studios; 102 one-beds and 26 two-bed room units.

Flanked by Sheikh Mohammed Bin Zayed Road, Dubailand’s strategic location in the proximity of key destinations in Dubai along with the lifestyle the community offers is a significant value-add for Floarea Oasis.

“Dubailand is one of the active and established residential communities in Dubai offering a modern lifestyle with all amenities including retail, leisure, healthcare and education facilities available within the master development, adding to the appeal of Floarea Oasis,” said Muhammad.

The project builds on the established legacy of Mashriq Elite and the trust and excellence it enjoys in Real Estate and Telecom sectors across global geographies, including Saudi Arabia, Singapore, Indonesia and the UAE, he stated.

In line with the increasing demand for quality residential units, Mashriq Elite is planning to add over 1,200 units to the emirate’s residential stock in the next two years across projects in a host of key locations in Dubai, he added.-TradeArabia News Service