Dubai, UAE – August 2026 – QUBE Development, a renowned real estate developer known for creating uniquely designed communities across the UAE, has announced the successful casting of the first portion of the foundation for its landmark and award-winning project –ELIRE Managed by LUX* in Business Bay, Dubai. In partnership with The Lux Collective, the award-winning global hospitality group behind the luxury flagship brand LUX*, this like-minded collaboration with QUBE Development also ushers the Middle East debut of LUX* branded residences featuring world-class hospitality
Marking the first major construction milestone, this demonstrates QUBE’s commitment to the delivery timeline of the branded residential project following the appointment of ASGC Construction LLC as the main contractor.
Egor Molchanov, CEO of QUBE Development, commented: “At QUBE, we ensure absolute responsibility and commitment to transparency for our project delivery roadmaps, from breaking ground right through to handover. Completing this initial foundation pour at ELIRE is a tangible reflection of our construction momentum and disciplined approach to execution. 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.”
Zaher Yahya, CEO of ASGC Construction, commented: “Following the completion of enabling works, this initial foundation pour represents a critical step forward in bringing this luxury vision to life. ASGC is fully focused on utilising its extensive experience in high-end branded residences to ensure that the construction of ELIRE progresses smoothly, meeting the exceptional standards and strict timelines that investors and future residents expect.”
This milestone highlights the company’s deep passion and unwavering commitment as it progresses steadily towards the scheduled handover in Q4 2028. By embedding transparency into every phase of the build, QUBE Development strengthens investor confidence and raises the benchmark for seamless project delivery in Dubai’s competitive real estate landscape.
About QUBE Development:
QUBE Development is a leading developer of high-quality residential properties and commercial spaces. Standing on the 30-year legacy of experience and excellence, QUBE is dedicated to transforming living spaces in the UAE by integrating sustainable architecture, captivating design, and unparalleled amenities. Each residence fosters distinctive communities, ensuring every space creates lasting value for customers while offering a harmonious blend of functionality and innovative design that elevates modern living and exceeds expectations.
As a sustainable and community-focused developer, QUBE Development aims to set the benchmark for real estate development by creating the foundation for generational wealth for its customers. The company prioritizes durability, reliability, sustainability, and quality in every project. Expanding its portfolio throughout the UAE, QUBE Development responds swiftly to the evolving market demands, maintaining a commitment to providing the highest quality builds through collaborations with world-renowned architects and dedicated contractors to ensure meticulous attention to design and construction.
Since its successful launch in the UAE, QUBE Development has maintained a real estate portfolio covering over 1.15 million square feet of land in the UAE, and is set to introduce AED 7.6 billion worth of inventory alone by 2026.
About The Lux Collective:
The Lux Collective (“TLC”) is a Mauritian-born global luxury hotel operator and manages brands LUX*, SALT, TAMASSA, SOCIO and Café LUX*. At the heart of its purpose, TLC makes each moment matter and cares about what matters. Putting people first is the core of TLC’s culture as well as staying true to the values of being passionate, responsible and innovative in all that it does. By providing comfort through thoughtful and exquisite designs, TLC creates experiences that make each moment matter for all guests. It is committed to operating in a considered and respectful manner that is mindful of future generations.
Through its signature Groupwide sustainability project Tread Lightly, The Lux Collective promises an eco-conscious stay throughout its hotels. Its partnership with Altruistiq, a group of CO2 experts, focuses on the environmental footprint and ensures that emission sources are tracked using the highest international Science-Based standard.
Growing the global presence, TLC currently manages 14 operating resorts and hotels in Mauritius, Maldives, Ile de la Reunion, China, Tanzania and Rwanda, and with 18 more hotels in its development pipeline in Africa, Asia and the Middle East.
An affiliate member of IBL, a major economic player in the Indian Ocean and a public-listed leader of the “Top 100” Mauritian companies, IBL is active in key sectors of the Mauritian economy, with a global portfolio of approximately 300 subsidiaries and associated companies.
About LUX:
At LUX, time is luxury. LUX* helps people to celebrate life by delivering consistently on the promise of a different kind of luxury; In a world where a deeper sense of connection can be hard to reach, even on vacation, it enables guests to break from the ordinary. Staging exceptional experiences in different locales – whether on the Beach, in the City or in Nature, it transforms the everyday into the extraordinary through elevated service, contemporary spaces and crafted escapes to truly disconnect and relax – with Life Extraordinary.
About ASGC Construction:
Founded in 1989 and headquartered in Dubai, United Arab Emirates, ASGC Construction has grown into one of the UAE’s leading contracting companies. With more than three decades of experience, the company has built a reputation for delivering complex, turnkey projects across the branded residences, commercial, hospitality, healthcare, education, aviation, industrial, and mixed-use sectors.
Over the years, ASGC Construction has played a central role in shaping the UAE’s skyline through the successful delivery of some of the country’s most iconic developments. Landmark projects include the prestigious Marsa Al Arab Hotel, Mohammed Bin Rashid Library, and the Coca-Cola Arena. The company recently handed over MC2 Masdar City Campus, a sustainable development that includes Abu Dhabi’s first net-zero energy office building. ASGC Construction continues to demonstrate its expertise through its delivery of complex and innovative projects across the UAE.
