Neoterra breaks ground on ELMORA, unveils new project

Dubai, April 04, 2026: Neoterra Developments has officially commenced construction of its upscale residential project, ELMORA, at Jumeirah Garden City, marking a key milestone in the company’s growth trajectory within Dubai’s competitive real estate sector. The groundbreaking ceremony signals the transition of the boutique development from concept to execution, with project completion scheduled for February 2028.

As part of its expansion strategy, Neoterra also revealed plans for a new residential development in Dubai Production City, expected to launch in the second quarter of 2026. This announcement underscores the developer’s continued confidence in Dubai’s evolving residential landscape and its commitment to tapping into emerging urban hubs.

ELMORA, with a gross development value of approximately AED 130 million, is strategically located just off Sheikh Zayed Road, offering seamless connectivity to key destinations across the city. The development features a mix of studio, one-bedroom, and two-bedroom apartments, with nearly 80 per cent of units already sold—reflecting strong investor demand. Notably, studio and one-bedroom units have been fully sold out, while a limited number of two-bedroom residences remain available, starting from AED 1.7 million.

Speaking on the occasion, Naresh Perwani, Founder and Chairman of Neoterra Developments, described the groundbreaking as a defining moment for the company. He emphasised that ELMORA represents more than just a new project, highlighting its alignment with the developer’s vision to create boutique, design-led residences in strategically positioned yet emerging neighbourhoods. He noted that the project reflects Neoterra’s philosophy of “Luxury Done Thoughtfully,” integrating design excellence, smart technology, and functional living to meet the expectations of modern urban residents.

The development is being executed in collaboration with GRID, which serves as the Development Lifecycle Management (DLM) partner. GRID is responsible for overseeing the project’s entire lifecycle, including design, construction, marketing, and sales, ensuring a seamless and high-quality delivery process.

Shreen R. Gupta, Founder and CEO of GRID, highlighted that the project has been envisioned as a distinctive residential offering defined by quality, precision, and thoughtful design. He added that GRID’s extensive partner network and expertise would play a crucial role in maintaining timelines and delivering the project to the highest standards, despite broader global challenges.

Designed to offer a refined urban lifestyle, ELMORA comprises 85 fully furnished residences and a curated range of premium amenities. These include a rooftop business lounge, state-of-the-art gymnasium, infinity lap pool, jacuzzi with panoramic views, sauna suites, landscaped podium gardens, and a dedicated jogging track.

The development also integrates hospitality-inspired services, with concierge offerings designed to enhance convenience and elevate everyday living. Residents will have access to services such as housekeeping, laundry, airport transfers, grocery management, and even private chef experiences for special occasions.

Strategically positioned, ELMORA provides residents with quick access to major business and lifestyle hubs, including DIFC, Downtown Dubai, Jumeirah, and La Mer beach. The project is also located just minutes from the planned DIFC 2.0 expansion, a AED 100 billion initiative expected to further enhance the area’s prominence as a global financial hub.

Sustainability remains a central focus of the development. ELMORA incorporates environmentally conscious features such as EV-ready parking, water-efficient fixtures, solar-control glazing, and energy-efficient cooling systems. These measures aim to reduce resource consumption while enhancing indoor comfort and supporting long-term environmental responsibility.

With construction now underway, ELMORA is set to become a key addition to Neoterra’s growing portfolio, combining boutique scale, prime connectivity, modern design, and sustainable living. The project reflects the developer’s ambition to play a meaningful role in shaping Dubai’s next generation of residential communities.