In the esteemed District 11 of Mohammed Bin Rashid City, Meydan, Swank Development, a prominent European real estate developer, has officially started construction on its newest high-end residential project, “Lua Residences.” This Dh320 million project represents a major step forward for the company as it continues to grow within Dubai’s booming real estate sector.
Prominent people from Maravilla Building Contracting and SKOON Architectural Design Consultancy, two important partners in this well-known project, were present at the foundation-laying ceremony. These included general manager Prasenjit Ghosh and managing director and board member Moustafa Elsaid of Swank Development.
The 37 villas at Lua Residences, which range in size from 4 to 6 bedrooms, each have distinctive interiors and a variety of features like private pools, internal elevators, and landscaped gardens that enhance the quality of life. Additionally, the villas feature cutting-edge solutions like smart technologies and sustainable practices that guarantee the residents’ modern and healthy lifestyle. Numerous public amenities are also available as part of the project, including retail stores, supermarkets, health clinics, lakes, gyms, mosques, and green outdoor spaces.
Moustafa Elsaid, Managing Director and Board Member of Swank Development, stated: “Lua Residences represents a bold step in expanding our real estate portfolio by introducing innovative lifestyle concepts that redefine luxurious living in premier destinations like Mohammed Bin Rashid City. At Swank Development, our vision is to elevate the standards of living in the UAE by creating modern, meticulously designed living spaces that offer unparalleled elegance and sophistication, ensuring a truly exceptional living experience for our residents”.
He emphasized that Swank Development’s entry into the Dubai real estate market marks the beginning of a new era in innovation and development, one that will adopt a sustainable approach for upcoming projects. This approach is based on a comprehensive vision and meticulous attention to detail that surpasses traditional construction to create one-of-a-kind homes that embody the aspirations of each resident.
Moustafa Elsaid reported that “Lua Residences” sales have surpassed forecasts and that all of the villas are expected to sell out quickly. Furthermore, the construction is proceeding according to plan, guaranteeing that all of the residential units will be delivered in the second quarter of 2026 on schedule.