Sikanta Developments, a recently established real estate firm in the UAE, has announced the launch of its first residential project, Myra Residences, located in Dubai South. The development comprises 64 apartments, including studios, one-bedroom, and two-bedroom units.
The project is situated close to key infrastructure developments such as Expo City, District 2020, and the upcoming Al Maktoum International Airport, which is projected to become the world’s largest upon completion. Dubai South spans 145 square kilometers and is designed to house up to one million residents in the coming decades.
Myra Residences aims to position itself within the mid-market segment, offering what the developer describes as “purposeful” design, landscaped communal areas, and proximity to educational and commercial zones. The homes are expected to cater to both end-users and investors seeking rental income, with the developer citing projected yields of up to 7%.
“We see long-term value in Dubai South’s growth story, especially with the planned airport and population targets outlined in the emirate’s 2040 urban master plan,” said Mohan Dass Saini, founder and managing director of Sikanta Developments.
Dubai’s real estate sector has remained buoyant, with the land department reporting AED 761 billion in transaction volume in 2024. population growth, estimated to reach 5.8 million by 2040, is also expected to drive sustained demand for housing, particularly in newly developing corridors.
Pricing details, construction timelines, and handover dates for Myra Residences have not yet been disclosed.
