Dubai, UAE - QUBE Development, a renowned real estate developer known for creating uniquely designed communities across the UAE, has appointed ASGC Construction LLC as the main contractor for ELIRE, Managed by LUX*, a branded residential project in Business Bay, Dubai.

The appointment of ASGC represents a significant milestone in the delivery of ELIRE, Managed by LUX*, and reinforces QUBE Development’s commitment to construction quality, execution excellence, and confidence in the resilience of the UAE real estate market. 

Egor Molchanov, CEO of QUBE Development, commented: “At QUBE, we take responsibility for every project we launch, from concept all the way to handover. ELIRE, Managed by LUX*, has been envisioned as a branded residence, where build quality, operational performance and durability go hand in hand with unique interior design and stand out architecture. By advancing construction and appointing ASGC as the main contractor, we reaffirm our commitment to delivering this project ahead of schedule and to the highest quality standards. We have absolute confidence in the UAE Leadership and believe in the resilience and the UAE real estate market, which remains fundamentally strong.”

ASGC, one of the region’s leading construction companies, brings extensive experience across technically demanding residential and mixed-use projects and supports robust planning, coordination and execution, ensuring alignment between design intent, construction methodology and operational requirements over time.

“ASGC’s proven track record in delivering high-end residential and hospitality developments provides the technical expertise and governance required to deliver ELIRE, Managed by LUX*, to the highest standards. For residents and investors, this appointment offers tangible assurance on construction quality, timelines, and asset value,” said Mr. Molchanov.

Zaher Yahya, CEO of ASGC Construction, commented: “QUBE Development has established a clear vision for ELIRE, combining design, operational performance and long-term value. We are proud to collaborate on a project that aligns with our experience in delivering branded residences, and we look forward to supporting its delivery with the standards residents and investors expect.”

Construction is now underway, with handover scheduled for Q4 2028, reflecting QUBE Development’s delivery roadmap. With its combination of design-led architecture, operationally integrated services and premium finishes, ELIRE, Managed by LUX*, offers investors and homeowners confidence in lasting asset value, quality and a luxury living experience.

Press contact: Selena Abu-Ras, Senior Account Executive, selena@bacchus.agency - +971552942208

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 in Dubai alone by 2026.