Dubai’s DI to invest USD2.7b on property projects
28 Dec 2014
(MENAFN) Dubai Investments PJSC announced it has plans to invest USD2.7 billion in real-estate projects in the next five years, due to the increase in demand for property in the emirate, Gulf Business reported.
These investments will be allocated to a number of developments such as the Mirdiff Hills, a USD 680.61 million project in Dubai that will include 1.500 homes, a 230-room hotel, shops and 200.000 square-feet of office space.
Another project is the USD1.90 billion project planned in Dubai Investment Park, which is a 13 million square-feet village with homes, shops, offices and hotels, in addition to the USD217.79 million business park in Fujairah, which will include a 220-room hotel, 200.000 square feet of offices, 150.000 square feet of retail space and some apartments.
Dubai Investments, whose largest shareholder is state-owned Investment Corporation of Dubai ICD, said that is seeking to profit from a market recovery in the emirate, which also has resulted in a number of companies deciding to increase their investments or revive delayed projects.