UAE-based real estate development company, Aurora Real Estate Development LLC (Aurora), has completed the construction of Hyati Avenue ahead of the construction programme and has begun the handover process.
The project is a collaboration of the ECC Group of companies and is located at Jumeirah Village Circle, comprising 19 townhouses and 103 apartments.
Aurora worked with its associated companies under the ECC Group which includes: Engineering Contracting Company, Abanos Interior Fit-out and Joinery, Prime Metal Industries, United Masters Electromechanical, and ECC Renovations.
Cian Farah, CEO of Aurora Real Estate Development, said: “With 95% of units sold in the award-winning Hyati Residence prior to its handover, Hyati Avenue is highly anticipated and has been positively received by the market with 80% of the units sold prior to its completion.
“We believe Hyati Avenue reflects our meticulous approach to detail and our continued drive to deliver elegant designs previously unseen in the market.
“The demand for further units within Hyati Residence has been overwhelming and we are looking forward to handing over Hyati Avenue in line with our corporate vision of delivering the best quality creative concepts at a reasonable price.”
The apartment building is eight storeys, comprising studios, one-bedrooms, and two-bedrooms. The 19 townhouses will range in size from 3,663 sq. ft to 3,815 sq. ft. and feature a lift, living area, modular kitchen, floor-to-ceiling glazing, floating feature staircase, four ensuite bedrooms with balcony access for each bedroom, a maids room, and an outdoor seating area.
The recreational areas of Hyati Avenue will include a kids’ play area, a landscaped area with 2 creative water features, a swimming pool, a jacuzzi and a gym.
Farah added: “Aurora aims to develop projects for the ‘new’ Dubai residents and property investors. There is a growing trend of international expatriates that consider Dubai a long-term place to invest, live, work and raise children.
“With homes becoming long-term investments for families and property investors, our focus is to build houses with this longevity in mind. We aim to create developments that can stand the test of time in terms of durability and design and have that extra finesse in quality and functionality.
“Hyati Avenue will also be a good investment at this point in the cycle, and we see good potential for capital appreciation over the coming three to four years. In addition, investors can expect to enjoy a net yield of c.6.5% at current market rates.”