Dubai – Mubasher: Dubai Investments Company said Monday that it is currently working on developing three real estate projects in the United Arab Emirates, and planning to operate in Africa.

These projects include the AED 3 billion Mirdif Hills project in Mirdif, which is being developed by Dubai by Dubai Investments Real Estate Company (DIRC), according to a bourse statement.

Additionally, the company works now on finalising the third phase of Green Community West project in Dubai Investments Park (DIP) by Properties Investment Company and AED 400 million Fujairah Business Centre in Saudi Arabia by Al Taif Investment Company.

Dubai Investments is also targeting mega, mixed-use industrial and business parks in Africa, which reinforces its commitment to the sector and the growth potential on offer in strategic markets, the statement said.

The company expected a total of 76 townhouses of Green Community West project to be completed and delivered during the first quarter of 2017, and will hand over 96 townhouses in the second quarter of the year.

In addition, 16 apartments and retail units are likely to be completed in the third quarter of 2017.

“Dubai Investments has carved a niche as one of the major players in the real estate and property management sector across the UAE. The company has also expanded into other countries, by utilising its expertise in developing and managing integrated mega projects and leveraging its core competencies. A number of proposals are also under negotiations to replicate Dubai Investments’ success and business models in different markets,” Khalid Bin Kalban, Managing Director and CEO of Dubai Investments, said.

“Dubai Investments has identified some growth markets which provide the stimulus to invest, particularly in the real estate sector, and generate high returns. Africa is very much part of this geographical scope,” He added.