Dubai Investments plans 10b dirhams of property projects as market recovers

Dubai

DUBAI Investments PJSC plans 10 billion dirhams (S$3.6 billion) of real estate projects in the next five years as it seeks to benefit from resurgent property demand.

Developments include Mirdiff Hills, a 2.5 billion dirham project in Dubai that will include 1,500 homes, a 230 room hotel, shops and 200,000 sq ft of office space, chief executive officer Khalid Bin Kalban said in an interview. The company's Dubai Investment Real Estate Co unit will start tendering for the development in the next two months, he said.