Svarn Development announces sellout of Sereno Residences; breaks ground at JVC

Amid surging interest in residential properties in Dubai, Svarn Development, a real estate firm founded by technocrats and industry veterans with over 50 years of combined experience, today announced that its new project — Sereno Residences, in Jumeirah Village Circle (JVC) has already sold out.

At the groundbreaking of the project, Svarn Development stated that the sale of the residential units at the announcement stage itself reflects the strong demand for residential properties in Dubai’s thriving real estate market.

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Svarn Development was founded by chairman Ramesh Aswani, renowned for his years of experience in developing and delivering innovative projects, along with two industry veterans — Naresh Odhrani and Shaikh Shamshuddin — both directors of the company.

"At Sereno Residences, our focus is to create living spaces that stand out for their quality, functionality, and harmonious, peaceful ambience. The project’s location in JVC, a well-established community with excellent infrastructure and seamless connectivity to Dubai’s key landmarks, also adds potential for higher ROI as the city’s real estate market continues to scale new heights," said Ramesh Aswani.

Sereno Residences, located in District 11 of JVC, will feature 91 residential units, including 8 studios, 74 one-bedroom, and 9 two-bedroom apartments, across a total plot size of 28,003 sq. ft, built up over G+5 floors on 83,436 sq. ft.

The project contract has been awarded to Gamma Contracting, with consultancy provided by Monarch Design Engineering Consultant. Svarn Development’s partners in success also include realty brokerage firms Artha Realty, in collaboration with Neev Realty, for sales and marketing.

The anticipated completion of Sereno Residences is in the last quarter of 2026.

Launch prices for Sereno Residences start at Dh624,900 for studios (382–388 sq. ft) and Dh1.499 million onwards for two-bedroom apartments (1,205–2,099 sq. ft), with flexible payment plans tailored to investors’ timelines.

Svarn Development is also planning a robust pipeline of projects, with estimated investments of over Dh300 million in key and emerging communities, including the Dubai Land Residence Complex (DLRC) within Dubailand, near Sheikh Mohammed Bin Zayed Road (E311) and Dubai–Al Ain Road (E66).

"The surge in demand for prime real estate in Dubai, driven by a continuing influx of global HNWI and non-HNWI investors attracted to the city’s lifestyle and world-class infrastructure, is propelling a market upswing. At Svarn Development, we plan to ride this wave of demand," said Naresh Odhrani.

Residential properties in Dubai have recorded exponential growth in the first half of 2025, with DXB Interact data showing 99,057 transactions — a 22.5% rise compared to the same period last year. Transaction values grew by 40% to Dh328.8 billion compared to H1 2024.

"JVC is one of the prime investment destinations benefiting from this surge in demand, with properties in the community offering rental yields and asset value appreciation of over 10%, in line with the overall growth of Dubai’s real estate market," added Shamshuddin.