Dubai Investments said to eye $2.7bn property project

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Dubai Investment is supposedly setting up to invest in AED10 billion ($2.7 billion) in Real Estate projects during the next five years.

As told to Bloomberg: According to CEO Khalid Bin Kalb an the company’s Dubai Investment Real Estate Company unit will initiate tendering in the upcoming 2 months for one chief project.

 According to the comments published by Bloomberg: The AED 2.5 billion development known as Mirdiff Hills in Dubai will comprise of 1,500 houses, a 230 room hotel, retail facility and office space of 200,000 square
feet.
Dubai Investments said to eye $2.7bn property projectBin Khalid also stated that the company will not require borrowing of capital for Mirdiff Hills and also the project will easily get sold in the market due to location, size and other features. He added that the company shall require bank or debt market funding for AED 7 billion development planned in Dubai Investment Park.

Bin Khalid also told to Bloomberg that construction began two weeks earlier on AED 800 million business park in Fujairah.

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