Dubai Investments is gearing up to deliver projects worth AED3.5 billion ($953 million) in the second half of 2021, said local reports on Monday, August 16.
The projects are spread across Dubai and Fujairah, said the reports.
The handover portfolio includes the final phase — comprising mall, retail, offices and a hotel within the commercial cluster — of the AED3-billion ($817 million) Mirdif Hills Project.
It is a mixed-use community development in the Mirdif residential area in Dubai, said the reports.
The company has already handed over the residential cluster within the project in 2020.
Works are also progressing steadily to complete the AED470-million (around $128 million) flagship Al Taif Business Center project in Fujairah.
This one is said to be a mixed-use project comprising a mall, office tower, residential tower, and a hotel.
The two projects together will provide more than 240,000 sq ft of commercial space with 100 retail units.
There will also be over 280,000 sq ft of office spaces, more than 350 hotel rooms, and more than 1,200 units of residential and serviced apartments.
Dubai Investments Vice-Chairman and CEO Khalid Bin Kalban was quoted by the local reports as saying: “With the real-estate sector maintaining stability in Q1 2021, it will continue to be a key vertical for Dubai Investments.”
He added: “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.”