Aurora Completes hyati avenue valued at aed 155 million ahead of program
UAE-based real estate development company, Aurora Real Estate Development LLC (Aurora), has successfully completed the construction of Hyati Avenue ahead of the construction program and has begun the handover process. The project is a collaboration of the ECC Group of companies and is located at one of the upcoming hubs of Dubai, Jumeirah Village Circle (JVC), comprising 19 townhouses and 103 apartments.
Hyati Avenue is tailored to meet the customer demand for high-quality affordable housing in JVC, providing clients with contemporary design and premium finishes. Aurora worked with its associated companies under ECC Group which includes: Engineering Contracting Company (ECC), Abanos Interior Fit-out and Joinery, Prime Metal Industries (PMI), United Masters Electromechanical (UME) and ECC Renovations to ensure the development exceeds market expectations.
Cian Farah, CEO of Aurora Real Estate Development, commented: “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 8 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, spacious living area, modular kitchen, floor-to-ceiling glazing, floating feature staircase, 4 ensuite bedrooms with balcony access for each bedroom, a maids room, and an outdoor seating area. Each unit will also have access to a private covered parking for 2 cars with an entry from the rear side of the building.
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 3-4 years. In addition, investors can expect to enjoy a net yield of c.6.5% at current market rates.”
Aurora has appointed renowned interior designer Davide Algranti to deliver the design for Hyati Avenue. Algranti has over 18 years of experience in design in the hospitality sector, internationally, and has overseen the design management of regional landmarks including The Address Hotel Boulevard, The Address Hotel in Dubai and The Jeddah Corniche Tower in Saudi Arabia.
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. Strategically located between the Al Khail and Sheikh Mohammed Bin Zayed Roads, Hyati Avenue offers buyers convenient proximity to shopping malls, parks, schools and medical centres.
Aurora Real Estate Development has delivered 590,000 sq. ft. of primarily residential developments over six projects and holds over 540,000 sq. ft. of new developments in the pipeline.
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