Swank Development announced on Wednesday the launch of its 320 million UAE dirhams ($87 million) Lua Residences project in Mohammed bin Rashid City in Meydan, Dubai.

The project features a limited collection of 42 villas ranging from 4 to 6 bedrooms.

Moustafa Elsaid, Managing Director and Board Member of Swank Development said the European-style villas have been launched in response to growing demand for high-end residential units.

He said the company is currently in the design and planning phase for a new project which will be announced soon.

(Editing by Anoop Menon) (anoop.menon@lseg.com)

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