DUBAI INVESTMENTS LAUNCHES AED 2 BILLION MIRDIFF HILLS PROJECT
Landmark mixed-use development comprises premium residential, commercial and retail spaces
Dubai – July 29, 2008:  Dubai Investments (DI) announced the launch of Mirdiff Hills - an AED 2 billion mixed-use development in Dubai - through its real estate arm Dubai Investments Real Estate Company (DIRC).

The latest in a string of mega projects launched by Dubai Investments, Mirdiff Hills is envisioned as a self-contained community comprising residential apartments, corporate offices and retail outlets. The project, which will have a total built-up area of 2.7 million square feet, comes equipped with all modern amenities such as swimming pool, clubhouse, playschool, Internet facility, coffee shop and children’s play area, and offers 24-hour security.

Commenting on the project’s launch, Khalid Kalban, Managing Director and CEO of Dubai Investments, said, “DIRC intends to play a leading role in the regional property scene, and with the launch of Mirdiff Hills we take a significant step towards achieving our strategic objectives and consolidating our market presence. With several more prestigious projects in the pipeline, DIRC is set to further expand its portfolio and position itself at the forefront of real estate activity within the UAE.”

Obaid Al Salami, General Manager of Dubai Investments Real Estate Company, said, “Mirdiff Hills is a landmark project that is poised to become one of the most sought-after mixed-use destinations in Dubai. With its unique blend of residential, commercial and retail units, complemented by world-class facilities and leisure amenities, the Mirdiff Hills will effectively be a self-sustained township, providing tenants a comfortable community lifestyle.”

“Construction on Mirdiff Hills has already commenced, and the project will soon be open for sale to both local and expatriate investors,” Al Salami added.

In all, Mirdiff Hills will feature 680 well-appointed apartments, 380 offices and 129 retail outlets. Located in the city’s Mirdiff area, the project is designed by prominent Dubai-based architects Al Shurooq Engineering Consultants, while construction leaders Al Arif Contracting Company has been appointed the lead contractor. Mirdiff Hills is scheduled for completion in early 2010.

DIRC’s portfolio boasts an eclectic mix of residential and commercial projects in the UAE, highlighted by the AED 14 billion mixed-use development in Ajman, which is currently under construction. DIRC also has a presence in the hospitality and sports management sectors through its subsidiaries Al Mujama Real Estate LLC and QDI respectively.

“DIRC’s real estate projects are characterized by an uncompromising commitment to quality. The projects are invariably based in convenient, carefully-chosen locations, and we ensure that the construction of the structures, as well as the facilities and services provided, live up to the highest international standards,” Kalban concluded.

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