Dubai Investments launches sales of $816m project

Dubai Investments launches sales of $816m project
Published: 12 December 2016 - 2:30 a.m.
By: Paromita Dey

UAE-based conglomerate, Dubai Investments, launched the sales of $816m (AED3bn) Mirdif Hills, the only freehold project in the Mirdif region.

A mixed-use development featuring 1,054 apartments - a mix of studio, one-, two-, three-bedroom apartments, and duplex units, a four-star hotel with 116 rooms and 128 serviced apartments and a 230-bed hospital - is being developed by its real estate subsidiary, Dubai Investments Real Estate Company (DIRC).

Spread across 3.9 million sq ft area, Mirdif Hills is being constructed in two phases and is expected to be completed by the fourth quarter of 2018.

It also a wide array of commercial options, retail outlets, community recreation, and landscaped gardens spread across three clusters: Al Multaqa Avenue, Janayen Avenue, and Nasayem Avenue.

DIRC has on offer attractive payment plans for the project, wherein the investors can pay up to 50% during the construction phase and the balance on completion.

 

Khalid Bin Kalban, the managing director and chief executive of Dubai Investments and chairman of DIRC, said: "As one of the leading players in the UAE real estate sector, Dubai Investments continues to develop its portfolio in the domain, amidst surging investor confidence and renewed market interest."

Dubai Investments, he stated, feels the market is right for the launch of its Mirdif Hills project, which offers salient advantages of ideal location, unique attractions, and amenities within a self-contained, community.

He added: "The UAE real estate market is characterised by strong fundamentals, making it the preferred investment destination in the Middle East and providing ample opportunities to drive added value. The launch of projects such as Mirdif Hills will not only rejuvenate the sector but also accentuate the strong growth potential on offer."

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