M Holding buys 15 plots in Mirdif

M Holding, the property development arm of the Mundia Group, has acquired 15 freehold plots of land in Mirdif, Dubai for a total investment of Dh615 million.

The purchase of the land from the Dubai Investments Real Estate Company (DIRC), the real estate arm of Dubai Investments, marks the developer's foray into the booming Dubai real estate market and follows the successful launch and sellout of its two projects in Ajman – Midas Executive I and II.

Senior company officials said that the company has plans to develop a Dh3bn freehold community on the 421,657 square feet plot, located within Mirdif and facing Mushrif Park.

With plans to develop the first freehold community in Mirdif, the developer has appointed Al Shurooq Architecture & Engineering Consultants as the Architect and Design consultants for the project, which will offer more than 1.9 million sq ft of built-up area. The integrated mixed-use community will incorporate a total of 15 G+4 buildings, with 12 of the buildings being earmarked for residential purposes and the remaining three for commercial use.