QUBE Development has completed the first foundation pour at ELIRE Managed by LUX* in Business Bay, advancing construction of the branded residential project towards its planned Q4 2028 handover.
August 14, 2026 | Palak Kataria | UAE | Construction | 3 Min Read
Image Courtesy: Official Communication
QUBE Development has reached its first major construction milestone at ELIRE Managed by LUX* in Business Bay, completing the initial foundation pour as work advances on the branded residential development.
The milestone follows the appointment of ASGC Construction LLC as the project’s main contractor and moves ELIRE into the next stage of construction ahead of its scheduled Q4 2028 handover.
Developed in partnership with The Lux Collective, the global hospitality group behind LUX*, the project will introduce the first LUX* branded residences in the Middle East, combining residential living with the hospitality services and curated experiences associated with the luxury brand.
Commenting on the progress, Egor Molchanov, CEO of QUBE Development, said the foundation pour reflects the developer’s focus on maintaining construction momentum and delivering according to its project roadmap.
“Completing this initial foundation pour at ELIRE is a tangible reflection of our construction momentum and disciplined approach to execution,” Molchanov said. “We remain fully focused on advancing works as planned alongside our main contractor ASGC to deliver a luxury residential masterpiece with the highest quality standards.”
For ASGC, the foundation works mark an important transition following the completion of enabling works at the site.
Zaher Yahya, CEO of ASGC Construction, said the contractor is drawing on its experience in high-end branded residences as construction progresses.
“Following the completion of enabling works, this initial foundation pour represents a critical step forward in bringing this luxury vision to life,” Yahya said.
The development adds to Business Bay’s growing portfolio of branded residences, with the partnership between QUBE Development and The Lux Collective bringing an internationally recognised hospitality brand into Dubai’s residential market.
ELIRE also forms part of QUBE Development’s expanding UAE portfolio. The developer currently has a real estate portfolio covering more than 1.15 million sq ft of land across the country and plans to introduce AED 7.6 billion worth of inventory by 2026.
With the initial foundation pour now complete, construction at ELIRE is progressing towards its planned Q4 2028 delivery, marking another step in the development of QUBE’s luxury residential portfolio in Dubai.
Source: Official Communication
