Real estate financier Amlak Finance has announced the completion of the first phase of its new residential development project in Mirdiff.
The project, which consists of 54 villas, marks the first time which Amlak has developed a fully-owned property.
Scheduled for completion by Q4 of this year, then the first phase of the project will be handed over by August, with second (September) and third phases to be handed over by the end of November.
As part of the first phase, one mock-villa is completed and available for viewing by potential tenants.
The AED 135 million ($36 .7m) development includes 18 land plots, with total area of 136,224 square feet. Each plot consists of three high-end townhouse villas which have four to five bedrooms, private gardens and parking facilities.
“This project has been fully managed and developed by Amlak and we believe it is well-suited for the market,” said Arif Alharmi, managing director and CEO of Amlak Finance.
“It will further enhance the value of our real estate investment and fulfil our commitments to our financiers and shareholders.”
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