Pioneering real estate concepts unveiled at Cityscape Global

Pioneering real estate concepts unveiled at Cityscape Global
Updated 21 September 2014
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Pioneering real estate concepts unveiled at Cityscape Global

Pioneering real estate concepts unveiled at Cityscape Global

Dubai Investments (DI), the major investment company listed on the Dubai Financial Market, is showcasing its wide array of pioneering, sustainable real estate concepts and solutions as also its forthcoming projects at Cityscape Global — the largest property exhibition across the Middle East — currently under way in Dubai.
One of the biggest real estate players in the UAE, DI has on show its iconic projects, including Dubai Investments Park (DIP) — the largest integrated commercial, industrial and residential community in Middle East, as also developments by its real estate arm Dubai Investments Real Estate Company (DIRC) in both residential and commercial space, among others.
DI, which has over 18 manufacturing companies focused on production of building materials and related construction products, has brought its diversified expertise to center stage at Cityscape, highlighting its capabilities to cater to the surging demand amid the real estate boom in the UAE and across the GCC.
DI today boasts of one of the largest land banks across UAE, totaling approximately 30 million square feet gross floor area (GFA) and owned by DIP, DIRC, Al Taif Investments and its joint venture Properties Investments (PI). Over 67 percent of DI’s asset base is in real estate and is currently worth over AED8.38 billion.
DI also announced that it will shortly launch its exclusive Mirdif Hills project, a mixed-use residential, commercial and retail development in Dubai, adjacent Mushrif Park. To be developed by DIRC, Mirdif Hills is envisioned as a self-contained community spread across 3.8 million square feet, and equipped with all lifestyle amenities and retail components.
Khalid bin Kalban, MD and CEO of DI, said: “The UAE real estate industry is witnessing robust growth, which is a reflection on its sound fundamentals and overall business confidence across sectors.
At Dubai Investments, we have a strong thrust in developing our real estate portfolio over the next two to three years — evident from our strong participation at Cityscape. This includes plans to launch the Mirdif Hills project soon, which will be a significant step toward achieving our strategic objectives and consolidating our market presence in the real estate domain. With a number of other prestigious projects in the pipeline, we are ideally positioned at the forefront of the real estate activity in the UAE and beyond.”
Among other projects at Cityscape, DI is providing an overview of the Fujairah Business Park and The Market developments in Fujairah, being developed by Al Taif Investment — a joint venture between DI and Fujairah Investment Establishment (FIE). Once complete, these projects are expected to significantly boost Fujairah's profile as a business hub.
Kalban added: “The construction industry has always been a key source in driving growth for the UAE’s economy and the current upswing has led to unprecedented demand for quality building materials and innovations.”
He said: “We see a huge opportunity, amid these growth trends, with official statistics revealing that contracts worth $5.4 billion were awarded for UAE residential projects in the first half of 2014. Overall, we are well positioned to capitalize on the emerging opportunities in the construction and real estate sector, across our land banks, property development and manufacturing units.”