Dubai-based Mashriq Elite Real Estate Development has handed over its Floarea Residence project in Arjan, completing 206 semi-furnished apartments less than a year after the scheme’s launch, as developers move to meet sustained demand in the emirate’s housing market.
The project was launched in September 2023 and handovers were completed by August this year, the company said. The nine-floor building comprises 91 studios ranging from 411 to 482 square feet, 97 one-bedroom units of 824 to 1,276 square feet and 18 two-bedroom apartments of 1,159 to 1,676 square feet.
Floarea Residence features an infinity pool that feeds a five-metre-high, 30-metre-wide cascade at ground level, a design element the company describes as the largest and first of its kind in a Dubai residential project. Amenities include a green central park, splash pad, gym, separate steam and sauna for men and women, children’s pools and play areas, a yoga studio and clubhouse facilities. The building has a glass facade, panoramic lifts and double-height lobby spaces, with apartments offering smart home systems and European appliances, the developer said.
The scheme was sold out at the off-plan stage within 35 days of launch and registrations at the Dubai Land Department were completed in 60 days. The publication cited market data showing 40,500 off-plan transactions worth 90 billion dirhams were recorded in Dubai through May 2025, accounting for about 38 percent of total real estate sales.
“The year-on-year residential real estate growth registered in Dubai has consistently remained exponential with continuing upswing in demand, thanks to the emirate firmly positioned as a destination for a diverse range of investors, including those looking for affordable luxury lifestyle,” Mashriq Elite CEO Kamran Muhammad. He said rental yields and overall asset appreciation of about 12 to 15 percent should continue to support the market, adding that the company has a pipeline of new projects.
Mashriq Elite plans to add more than 1,200 units to Dubai’s housing stock over the next two years, with schemes at different stages of planning and pre-development. The next launch, Floarea Vista, is slated for Discovery Gardens. Further projects include Floarea Grande in Arjan, Floarea Skies in Jumeirah Village Circle and Floarea Oasis in Dubai Land Residential Complex. The company said it has secured land for future launches at Dubai Islands, Meydan District 11 and Dubai Production City, under the Floarea brand family.
Floarea Residence sits within the Dubailand master community. The developer highlights access to key retail and leisure destinations within a 10 to 20 minute drive, including Mall of the Emirates, Dubai Hills Mall, Global Village, the Butterfly and Miracle Gardens, Dubai Autodrome and the Burj Al Arab area. The project is bordered by Al Barsha South to the north and Sheikh Mohammed Bin Zayed Road to the south, offering connectivity to major city arteries.
Mashriq Elite says it brings a record of delivery across real estate and telecom ventures in Saudi Arabia, Singapore, Malaysia and the United Arab Emirates, and plans additional residential projects across Dubai over the next three years, building on the Floarea rollout.
