DIRC launches Dh2bn mixed-use development

Dubai Investments Real Estate Company (DIRC), the real estate arm of Dubai Investments, announced the launch of Mirdiff Hills, a Dh2 billion mixed-use development in Dubai yesterday.

Mirdiff Hills is envisioned as a self-contained community comprising residential apartments, corporate offices and retail outlets. The project, which will have a total built-up area of 2.7 million sqft, comes equipped with amenities such as swimming pool, clubhouse, playschool, internet facility, coffee shop and children's play area, and offers 24-hour security.

Commenting on the project's launch, Khalid Kalban, CEO of Dubai Investments, said: "DIRC intends to play a leading role in the regional property scene, and with the launch of Mirdiff Hills we take a significant step towards achieving our strategic objectives and consolidating our market presence. With many more prestigious projects planned, DIRC is set to expand its portfolio and position itself at the forefront of real estate activity in the UAE."

Obaid Al Salami, General Manager of DIRC, said: "Mirdiff Hills is a landmark project that is poised to become one of the most sought-after mixed-use destinations in Dubai. With its blend of residential, commercial and retail units, complemented by world-class facilities and leisure amenities, the Mirdiff Hills will effectively be a self-sustained township, providing tenants a comfortable community lifestyle."

"Construction on Mirdiff Hills has already commenced, and the project will soon be open for sale to both local and expatriate investors," Al Salami said.

In all, Mirdiff Hills will feature 680 well-appointed apartments, 380 offices and 129 retail outlets. Located in the city's Mirdiff area, the project is designed by prominent Dubai-based architects Al Shurooq Engineering Consultants, while construction leaders Al Arif Contracting Company has been appointed the lead contractor. Mirdiff Hills is scheduled for completion in early 2010.

DIRC's portfolio boasts a mix of residential and commercial projects in the UAE, highlighted by the Dh14bn mixed-use development in Ajman, which is under construction. DIRC also has a presence in the hospitality and sports management sectors through its subsidiaries Al Mujama Real Estate and QDI, respectively.

"DIRC's real estate projects are characterised by an uncompromising commitment to quality. The projects are based in convenient locations, and we ensure the construction of the structures and the facilities and services provided, will be of the highest international standards," Kalban said.

Follow Emirates 24|7 on Google News.