Neotera Real Estate Development, based in Dubai and focused on residential community projects, has announced the groundbreaking of its new venture, “Elmora,” located in Jumeirah Garden City. The project is slated for completion and handover in February 2028. Additionally, the company plans to unveil its next project in Dubai Production City, which is expected to be officially announced in the second quarter of 2026.
The luxury residential tower “Elmora” represents an investment of approximately 130 million dirhams and is being developed in collaboration with GRID, serving as the development lifecycle management partner. The project boasts a prime location near Sheikh Zayed Road and will feature a range of contemporary living units, including studios and one- and two-bedroom apartments, with around 80% of the total units already sold.
Narsh Berwani, the founder and chairman of Neotera Real Estate Development, stated, “The groundbreaking of the Elmora project in Jumeirah Garden City marks a significant milestone in our growth strategy as we accelerate our expansion in Dubai. Elmora embodies our long-term vision to create upscale residential projects centered on design in strategically promising locations within the city, aligning with Dubai’s vision of developing modern urban communities of the new generation.”
Berwani further noted, “Having GRID as our development lifecycle management partner provides us with immense confidence throughout various phases of the project execution, from design and construction to marketing and sales.” He also expressed excitement about the upcoming Neotera residential project in Dubai Production City, highlighting that it reflects the ongoing growth of the company and its long-term confidence in emerging urban residential destinations in Dubai.
Shirin R. Gupta, the founder and CEO of GRID, commented, “Despite broader geopolitical challenges, our extensive GRID network enables us to select the right partners, ensuring projects are executed and delivered on time and to the highest quality standards.”
The Elmora project consists of 85 fully furnished residential units, with all studio apartments and one-bedroom apartments sold out. Currently, a limited number of two-bedroom apartments are available, starting at 1.7 million dirhams.
Residents of Elmora will enjoy seamless access to key business and contemporary lifestyle destinations in Dubai, located just minutes from the Dubai International Financial Centre and only five minutes from the new expansion project “DIFC 2.0,” valued at around 100 billion dirhams. Additionally, residents will benefit from the project’s proximity to Downtown Dubai, Jumeirah, and La Mer beach, along with easy access to metro stations, main roads, and future transit networks, enhancing the overall urban living experience.