Dubai Investments unveils pioneering real estate concepts at Cityscape
• Company highlights iconic real estate projects, its massive land bank across the UAE and diversified expertise in construction materials industry
• DI, one of the largest real estate players in UAE, to unveil new projects soon
• Dubai Investments Real Estate unravels details of ‘Mirdif Hills’ development
Sunday, September 21, 2014
Dubai Investments PJSC [DI], the leading 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 & 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 centre stage at Cityscape, highlighting its capabilities to cater to the surging demand amidst 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% of DI’s asset base is in real estate and is currently worth over AED 8.38 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.
Mr. Khalid Bin Kalban, Managing Director 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 towards 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 Fujairahs profile as a business hub.
Mr. 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. We see a huge opportunity, amidst these growth trends, with official statistics revealing that contracts worth US$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.”
DI also announced recently that its subsidiaries, including Glass LLC, Dubai Cranes, Emirates Building Systems, Gulf Dynamic Switchgear, Emirates Extrusion Factory [EEF], International Rubber Company, Emirates Extruded Polystyrene, among others, have scaled up their production capacities to meet the escalating demand for its products.
To learn more about DI plans, visit Stand No. 3C10 in Hall 3 at Cityscape Global. Hosting more than 250 exhibitors from across the globe, the 13th edition of Cityscape runs till September 23 at Dubai International Convention & Exhibition Centre.