Mashriq Elite breaks ground for fifth residential project Floarea Skies in JVC

The Dubai-based Mashriq Elite Real Estate Developments broke ground for their fifth residential project - Floarea Skies - in Jumeirah Village Circle (JVC), the residential community which has stayed at the top for sales transactions in Dubai’s property market for 2024 and the three quarters of 2025.

Kicking off the start in constructing the 23-floor Floarea Skies, Mashreq Elite Developments said in a statement that the residential development will add 192 premium affordable apartments to the JVC community where demand for apartments have remained consistently high with annual asset appreciation by over 10 per cent and rental yields between 8-9 per cent.

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“Floarea Skies in JVC is a very exciting project for us as we mark our presence in the top-ranking residential community in Dubai. Excellent infrastructure, connectivity to key locations in Dubai, and serene urban neighbourhood ambience, have ensured a thriving residential community in JVC. The upcoming Purple Line metro in the immediate proximity will only fuel further investor interest in properties here with the potential for scaled up RoI,” said Kamran Muhammad, CEO of Mashriq Elite Developments.

The anticipated completion date of Floarea Skies coming up on a plot area of 20,441 sqft is Q4 2027.

JVC is Dubai’s most in-demand and best-performing residential community with strong investment credentials. According to DXB Interact, JVC has consistently topped the charts in 2024 and across the first three quarters of 2025 - with a 17.6 per cent YoY growth in sales volume in Q3 2025 and a 20.3 per cent YoY increase in value.

“The demand for residential apartments at JVC has been on the rise sharply and this has been reflecting in the robust investor inquiries we have been receiving ever since the announcement of the project,” added Muhammed.

Floarea Skies will have 42 studios, 134 one-beds and 16 two-beds.  A standard studio apartment size will be 398 sqft, while one-beds will come in four types from 717 to 836 sqft. Two beds will range from 1,105 to 1,170 sqft in three types.

Price range for apartments starts from Dh666,000 for a studio, Dh1,069,000 for one-bed, and Dh1,499,000 for a two bed.

Floarea Skies is located at the entry/exit point of JVC.  The residential development is within a 10-minute travel distance to landmarks such as Dubai Media City, Dubai Marina, Burj Al Arab, Dubai Cricket Stadium, Dubai Autodrome and Mall of Emirates, while it is within 25 minutes reach to Downtown Dubai, Business Bay and Dubai Mall.

Floarea Skies will also set a new benchmark for leisure, wellness and community living with a host of amenities. These include a Rooftop Infinity Pool, Kids’ Organic Pool, Zen Garden, Floating Meditation Deck, Mini Golf, Splash Pad & Poolside Baja Shelves. The development also offers a Reading Corner, Board Game Area, Sunken Lounge, a BBQ Zone and a fully equipped Gymnasium.

As demand for residential apartments surge in line with the increasing population of the UAE and influx of global investors to Dubai’s property market, Mashriq Elite is looking at adding over 1,200 units to the emirate’s residential stock in the next two years.

These include new projects, Floarea Vista in Discovery Gardens, Floarea Grande in Arjan, and Floarea Oasis at Dubai Land Residential Complex (DLRC). Projects on the drawing board include Floarea Breeze in Dubai Islands, Meydan District-11 and Dubai Production City (DPC), where land parcels have already have been strategically secured.