DIFC to launch real estate fund

MAJOR INVESTMENTS: DIFC Investments plans to launch a real estate fund. (Getty Images)

DIFC Investments said on Saturday it plans to launch a UAE real estate fund and will announce "major investments" in several projects in the coming months.

The company, the investment arm of the Dubai International Financial Centre (DIFC), the move "reflects the great potential of the UAE’s real estate sector".

"Over the next few months, we will announce major investments in various real estate projects that will further enhance Dubai’s position as a global hub," Ibrahim Belselah, the head of DIFC Investments real estate division, said in a statement.

Omar bin Suleiman, chairman of DIFC Investments, said growth of the real estate sector provided "an excellent opportunity to diversify our portfolio".

"Historically, this sector has netted high returns for investors, and there is a lot room for growth and a lot of untapped potential in this sector, both in the short and longer term," bin Suleiman said.

"Given the global economic environment, our decision to invest heavily in the country’s real estate and infrastructure projects will cement our position as a key player in the UAE..."

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