Dubai Investments has revealed it will handover real estate worth AED3.5 billion ($953 million) across Dubai and Fujairah in the second half of this year.
The company’s portfolio for handover in H2 includes more than 240,000 sqft of retail space, 100 retail units, over 280,000 sqft of office space, more than 350 hotel rooms and in excess of 1,200 units of residential and serviced apartments.
A breakdown of these will see a mall, retail, offices and a hotel within the commercial cluster of the AED3bn ($817m) mixed-use Mirdif Hills project – the company successfully handed over the residential cluster within the project in 2020.
Works are also progressing to complete the AED470m ($128m) flagship Al Taif Business Centre (above) project in Fujairah – a mixed-use project comprising of the mall, office tower, residential tower, and the hotel.
“With the real estate sector maintaining stability in Q1 2021, it will continue to be a key vertical for Dubai Investments. We are completing the final phases of the projects at strategic locations, offering a range of investment opportunities, aimed at furthering economic diversification and enhancing the investment environment,” said Khalid Bin Kalban, vice chairman and CEO, Dubai Investments.
“Our commitment to a fast-paced track to growth will ensure the sustainability of the development process and the consolidation of a knowledge-based economy that can attract assets and investments from around the world.”
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