By: Amr Adel

Dubai – Mubasher: The total value of current projects by Dubai Investments Real Estate Company (DIRC), the wholly-owned subsidiary and real estate arm of Dubai Investments (DI), ranges between AED 4.5-5 billion, said DIRC general manager Obaid Mohammed Al Salami.

The company recently launched its Mirdif Hills project in Dubai at investments worth AED 3 billion, Al Salami told Mubasher on the sidelines of the Cityscape Global 2015 exhibition on Tuesday, adding that DIRC is currently examining two projects, one of them is in Dubai Maritime City, while the other, in the Midan project, is still understudy. 

Mirdif Hills is slated to begin at the end of 2015 or in early 2016 at most, the official revealed, adding that around between 600 and 700 residential apartments will be completed in the first year (2017, with expected sales to range between AED 1.5-2 billion.

Spread across 3 million square feet and equipped with all lifestyle amenities and retail components, the Mirdif Hills project is a mixed-use residential, commercial and retail development in the emirate of Dubai and will be showcased at the Cityscape Global exhibition.

The project will also house a hotel and a hospital, although the latter is still understudy, DIRC’s top executive noted.

Al-Salami also revealed that his company seeks to begin a real estate project in Abu Dhabi early next year.

Translated by: Nada Adel Sobhi