DI broadens its footprint in real estate sector

Dubai Investments (DI) As part of its strategy to further broaden its footprint in the industry, Dubai Investments (DI) plans to unveil iconic projects across the U.A.E. in the coming months with projects in Meydan, Mirdif and Jumeirah Village Circle in Dubai, as well as other developments in Fujairah and Abu Dhabi.
Over 67% of DI's asset base is in real estate, currently worth over AED 8.38 billion, making DI one of the biggest real estate players in the U.A.E..
Khalid bin Kalban, Managing Director and CEO of DI, said, "The U.A.E. real estate industry is in the midst of robust growth - which is a reflection on its sound fundamentals and overall business and investor confidence across sectors, be it retail, tourism, aviation, hospitality or trade. As one of the leading companies, we feel the time is right to move forward with developing our land holdings. Average property prices in Dubai have risen by more than 20 percent in the last 12 months and we are confident that 2014 will mark a major step-change in the growth of the U.A.E. real estate sector." He added, "We aim to set new benchmarks through our projects and there is still an untapped market which we are eyeing. The overall optimism, accentuated with Dubai winning the Expo 2020 bid, is translating into investors eyeing long-term investments and growth in the U.A.E. real estate industry. Overall, we expect acceleration across the entire spectrum of the industry." By leading the way with innovative developments accommodating every lifestyle, DI has again reinforced its commitment to ensure the long-term sustainability of the U.A.E.'s real estate market.
"Established communities with a wide range of lifestyle amenities will continue to take a lead position in the current real estate environment. Moreover, with Dubai's status as a safe haven, it is the ideal destination for investing in property, both residential and commercial," Mr. Kalban summed up.
Source: WAM