A total of Dh3.5 billion worth of projects will be handed over by Dubai Investments by the end of H2 2021 across Dubai and Fujairah.
In a statement, the company said its handover portfolio during the second half of 2021 includes the handing over of the final phase comprising of the mall, retail, offices, and the hotel within the commercial cluster of the Dh3 billion Mirdif Hills Project – mixed-use community development in Mirdif. In 2020, Dubai Investments handed over the residential cluster within the project.
“Works are also progressing steadily to complete the Dh470 million flagship Al Taif Business Centre project in Fujairah – a mixed-use project comprising of the mall, office tower, residential tower, and the hotel,” it said.
Dubai Investments’ vice-chairman and CEO, Khalid bin Kalban, said the real estate sector is expected to stay stable in Q1 2021, and thus it will remain a key vertical for Dubai Investments.
Khalid bin Kalban, vice-chairman and CEO, Dubai Investments, said 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. 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”, said Kalban.
“Providing a perfect blend of residential, commercial, and hospitality segments, the two projects together will provide more than 240,000 Sq. ft of retail space with 100 retail units, more than 280,000 sq. ft of office spaces, more than 350 hotel rooms, and more than 1200 units of residential and serviced apartment,” said the statement.
According to the company, the projects, which will put the emirate on the map concerning urban development, will act as a catalyst, attracting investments and raising its profile as a vibrant business location, addressing lifestyle needs of hospitality, retail, and entertainment across the emirates.