Dubai Properties Group to double investments to $190bn

 

Dubai Properties Group, a member of Dubai Holding, said on Saturday it plans to double its investments to $190.6 billion (Dh700 billion) over the next three years as it seeks to expand globally.

 

The group, a newly-consolidated body of six real estate units, has sent delegation teams to India, Pakistan, Tunis, Qatar, Uzbekistan, Madagascar and the Maldives to explore investment opportunities, Chairman Hashim Al Dabal said in a statement.

 

The company, with projects worth Dh365 billion, will develop and hand over approximately 5,000 commercial, residential and retail units this year, it added.

 

Dubai Holding is owned by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. (Reuters)