Dubai’s real estate sector has welcomed a new premium addition with the launch of Lume Residences, a 178-unit luxury project in Jumeirah Village Circle (JVC). Developed by Skygate Properties, the AED 500 million ($136 million) development targets the growing demand for high-end, family-oriented communities in Dubai’s suburbs, reflecting the emirate’s sustained population growth and investor appetite.
The project will offer a mix of 1- to 4-bedroom apartments and duplexes, priced from AED 1.2 million ($327,000). Designed to blend modern aesthetics with functionality, Lume Residences will feature —
- smart home automation
- infinity pools
- a sky lounge
- a dedicated co-working space
The development is set for completion in late 2027. It offers flexible payment plans, including a 70/30 post-handover scheme.
The launch aligns with JVC’s rapid transformation into a residential hotspot. Data from the Dubai Land Department shows a 28% YoY increase in property transactions in the area, driven by its affordability compared to central hubs like Downtown Dubai and Dubai Marina. Average rental yields in JVC hover around 6.5%, attracting both tenants and investors, while its proximity to major highways and schools like Sunmarke School enhances its family appeal.
Skygate Properties, a UAE-based Al Nawras Holding subsidiary, emphasized sustainability in its blueprint. Aligning with Dubai’s 2040 Urban Master Plan, Lume Residences will incorporate the following —
- LEED-certified designs
- electric vehicle charging stations
- water-efficient landscaping
Nearly 30% of units were pre-sold within days of the launch.
The announcement follows a flurry of activity in Dubai’s mid-market housing sector, with developers like Deyaar and Sobha Realty also accelerating projects in JVC and Dubai South. Analysts at Knight Frank MENA attribute the trend to —
- Dubai’s 4.3% population growth in 2025
- a shift toward integrated, amenity-rich communities
Dubai’s real estate transactions hit AED 34 billion ($9.3 billion) in Q1 2025, and projects like Lume Residences underscore the sector’s resilience.