ELIRE Managed by LUX

ELIRE offers 223 units across two formats. The 111 two-bedroom units are priced from AED 3.35M to AED 4.4M at 68.19–90.86 sqm, equating to AED 43,812–54,125 per sqm. The 112 three-bedroom units run from AED 6.07M to AED 7.4M at 134.34–144.09 sqm, sitting in the same per-sqm band. A 5% buyer-side buyer-side fee applies on top of the purchase price and must be included in total acquisition cost calculations alongside the 4% DLD transfer fee and trustee registration charges.

This per-sqm range positions ELIRE well above Business Bay's mid-market. The justification is the managed-residence structure: units are operated under the LUX brand through a pooled hospitality management framework, which commands a listing premium but introduces a direct dependency on operator performance. Net yield is determined by the LUX platform's occupancy rates post-handover, not by open-market rental comparables in the district. Buyers targeting a specific income return need the operator's historical occupancy data and revenue-share structure before pricing in expected returns.

Only 2 tracked DLD transactions are on record for ELIRE. That reflects early-stage sales activity rather than a failed launch, but it means buyers are working from developer-set pricing without secondary market validation. For a grounded view of what to verify before committing capital at this price point, off-plan buying guidance covers the full due-diligence checklist, and off-plan versus ready property addresses the capital lockup trade-offs relevant to a Q4 2028 delivery.

ELIRE's construction is 16.32% behind its original programme, with Q4 2028 remaining the stated handover target. With over two years of construction runway ahead, a delay of this magnitude is not terminal, but it must be read alongside QUBE's broader delivery pattern. The developer's other active project, Arisha Terraces in Dubai Studio City, is 26.78% behind plan at a more advanced stage, indicating that schedule slippage is a recurring characteristic across the QUBE portfolio rather than an isolated site issue.

For context within the Business Bay off-plan market, ELIRE's 16.32% delay is moderate. Aykon City 3 by DAMAC is running 190.99% behind its original timeline — a profile that makes ELIRE's current position look conservative by comparison. That context does not eliminate the delay risk at ELIRE, but it does correctly frame it as a mid-range delivery risk rather than an outlier.

All off-plan payments in Dubai are protected under Law 8/2007, which requires funds to be held in a DLD-registered escrow account and released only upon verified construction milestone certificates. Before transferring any reservation amount, obtain QUBE's RERA registration number and the project escrow account details in writing. Progress can be independently cross-checked through the DLD's Oqood registration system. Any buyer with a hard capital-redeployment or occupancy deadline should build a 2029 buffer into their financial model.

Business Bay recorded 2,234 DLD transactions in the past twelve months, making it one of Dubai's most active off-plan districts by transaction volume. Median transaction pricing reached AED 2.36M in early 2026, with year-on-year median appreciation of 43.6% through February 2026. Average gross rental yields across the district sit at approximately 8.2%. Twenty-six developers are currently active across more than 75 tracked off-plan projects — a supply density that means ELIRE is competing for buyer attention and post-handover rental demand against a significant pipeline of contemporaneous product.

ELIRE's AED 43,812–54,125 per-sqm range sits well above the district median. Branded and managed-residence product in Business Bay has historically commanded a premium over standard unmanaged apartments, underpinned by corporate demand from the DIFC and Downtown Dubai adjacency and the district's established short-term rental market. Whether that premium holds through to Q4 2028 handover depends on how much of the current 75-plus project pipeline reaches completion in the same window and compresses yields across the district.

For investors, the 8.2% district yield average is a useful orientation benchmark, but it is not directly applicable to ELIRE. Managed-residence net yields are a function of the operator's occupancy performance, revenue-share terms, and management fee deductions — all of which sit above and independent of the open-market rental rate that drives the district average. Buyers should request operator-specific income projections grounded in comparable managed schemes before using the district average as a return proxy.

QUBE Development is a boutique developer with two active off-plan projects in Dubai, and Arisha Terraces in Dubai Studio City is the most relevant reference point for assessing the developer's track record. Arisha Terraces enters at AED 906,000 for studios of 48.77–53.98 sqm and AED 1.87M for one-bedrooms of 81.1–116.13 sqm, priced at AED 14,871–18,766 per sqm. Handover is targeted Q4 2027, with construction 26.78% behind plan. The critical contrast with ELIRE is transaction depth: Arisha Terraces has 287 tracked DLD transactions, producing a secondary market baseline that investors can actually interrogate. ELIRE's 2 transactions provide none of that validation.

The two projects serve structurally different buyers. Arisha Terraces targets yield-entry investors requiring lower capital, faster liquidity, and a sub-AED 2M ticket. ELIRE targets premium buyers accepting a longer hold period and higher capital at risk in exchange for a branded managed-residence income structure. Both projects share the same developer delay pattern, and both carry thin-to-nonexistent secondary market pricing for the current period relative to the commitment size.

For buyers evaluating QUBE's ability to execute at ELIRE's price point specifically, the absence of comparable high-ticket completions in the developer's history is a genuine risk factor. Boutique developer scale limits the financial buffer available to absorb cost overruns that a larger developer could absorb without affecting delivery. That risk is proportionally larger at AED 3.35M–7.4M than at Arisha Terraces entry prices.

Aykon City 3 by DAMAC is the closest entry-price competitor, priced from AED 3.1M for 167.13 sqm units at AED 18,548 per sqm — a dramatically lower per-sqm rate against ELIRE's range. The trade-off is a construction delay of 190.99% against an original Q4 2027 target, placing it among the most delayed projects currently tracked in Business Bay. Twelve DLD transactions give it limited but real secondary market evidence. DAMAC's financial scale and delivery infrastructure are materially stronger than QUBE's, but the delay profile at Aykon City 3 is severe enough that buyers should treat any handover commitment with significant scepticism until construction milestones are independently verified.

Haus of Tenet by Irth Development occupies a comparable residential position in Business Bay. Buyers evaluating ELIRE's managed-residence premium against standard unmanaged residential supply in the district should include Haus of Tenet in any direct per-sqm comparison before accepting ELIRE's upper-tier rate as market-justified.

Bearau Lamar Commercial Tower by Lamar Development enters at AED 43M for 687 sqm commercial floor plates targeting LEED Platinum specification — a wholly different product class and buyer profile, relevant only to investors assessing Business Bay's commercial-versus-residential supply balance rather than as a residential alternative.

Arisha Terraces by the same QUBE developer offers a lower-ticket entry into the developer's pipeline in Dubai Studio City for buyers open to a different sub-market, or for those who want to assess QUBE's construction progress at a more advanced stage before committing to ELIRE's longer hold and higher capital. For a current view across all off-plan projects active in Dubai and the full Business Bay supply picture, Business Bay covers competing launches at every price point in the district.