Dubai Investments targeting robust real estate projects in Africa

Dubai Investments has said it is focusing on strong growth in the real estate sector with several new projects in planning and execution stages across the UAE and other parts of the world.

The company also said it is targeting mixed-use industrial and business parks in Africa, in addition to projects such as the AED3 billion ($810 million), Mirdif Hills and the Green Community West Phase 3 projects in its home market,

Dubai Investments added that its subsidiaries in real estate and property management sector make up 62 percent of its total asset mix, worth AED9.7 billion.

Khalid Bin Kalban, managing director and CEO of Dubai Investments, said: “Dubai Investments has carved a niche as one of the major players in the real estate and property management sector across the UAE. The company has also expanded into other countries… a number of proposals are also under negotiations to replicate Dubai Investments’ success and business models in different markets.”

“Dubai Investments has identified some growth markets which provide the stimulus to invest, particularly in the real estate sector, and generate high returns. Africa is very much part of this geographical scope,” Khalid added.

One of the most remarkable projects launched by Dubai Investments is Mirdif Hills, which spans across 4 million square feet and includes 1,300 apartments, a four-star hotel with 120 rooms and 128 serviced apartments, hospital, retail outlets and community recreation.

Also, the Green Community West Phase 3 will compose pf 210 townhouses, 16 duplex apartments, three retail shops and two recreational centers, with a sum of 76 townhouses expected to be completed and handed over in the first quarter of 2017.

More than 1,150 residential units are also presently under construction within DIP and are expected to be completed by 2018.

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