Svarn Development, a real estate development firm formed by technocrats and veterans in the industry with over 50 years of expertise, today (September 8) announced the ground breaking of its new project - Sereno Residences - at the Jumeirah Village Circle (JVC)
Coming up at District 11 of JVC, Sereno Residences will have 91 residential units in all including 8 studios, 74 one-beds and 9 two-bed room apartments, across a cumulative plot size of 28,003 sq. ft, built-up across G+5 floors on 83,436 sq. ft.
Speaking on the occasion, Svarn Development Chairman Ramesh Aswani said it had achieved a major milestone with the complete sellout of all the 91 units within the project.
"At Sereno Residences, our focus is to create life spaces that are distinct in its living quality and functional advantages in a harmonious and peaceful ambience. The project’s location at JVC, a well-established community with excellent infrastructure and smooth connectivity to the key landmarks of Dubai, also adds to potential increase in RoI as Dubai’s realty continues to scale new heights," said Aswani.
He was joined by a number of company officials for the groundbreaking ceremony including company directors Naresh Odhrani and Shaikh Shamshuddin.
Svarn Development said it was also looking at a robust pipeline of projects with estimated investments of over AED300 million ($82 million) in key and emerging communities including in Dubai Land Residence Complex (DLRC), within the Dubailand development in close proximity to Sheikh Mohammed Bin Zayed Road (E311) and the Dubai-Al Ain Road (E66).
"The surge in demand for prime real estate in Dubai, thanks to the continuing influx of global HNWI and non-HNWI investors, attracted to the lifestyle and world-class infrastructure of Dubai is propelling a market upheaval. At Svarn Development, we plan to ride the crest of this demand wave," said Odhrani.
The launch price line for Sereno Residences started at AED624,900 onwards for studios in the range of 382-388 sq. ft, to AED1.499 million onwards for two-beds between 1,205 to 2,099 sq. ft, with flexible payment plans to suit various timelines of investors, he stated.
For this premium project, Svarn has signed up Gamma Contracting as the key contractor, while the consultancy deal has been awarded to Monarch Design Engineering Consultant. Svarn Development’s partners in success also include the realty brokerage firms, Artha Realty in collaboration with Neev Realty for sales and marketing.
"JVC is one of the prime investment destinations benefiting from the demand surge with properties in the community offering both rental yields and asset values upwards 10 per cent, in sync with the overall growth of Dubai’s real estate market," stated Shamshuddin.
The anticipated completion of Sereno Residences is in the last quarter of 2026, he added.-TradeArabia News Service
