Real estate financier in the GCC region, Amlak Finance, publicised the completion of the initial stage of its first fully-owned property development in Mirdiff, said a statement issued by the firm on Dubai Financial Market (DFM).
The development is only a part of master developer Meraas larger project in the same area, yet the Amlak property will hold 54 villas. Now that the opening stages of construction are completed, the villas are available to view for prospective buyers and investors. On the whole, the Amlak set of villas is slated to reach the conclusion of its development by Q4 2017.
The development is worth AED135mn and consists of 18 land plots, which amounts to a total area of 17ha. Each plot consists of three high-end townhouse villas which have four to five bedrooms, private gardens and parking facilities. The project is centrally located in Mirdiff, and provides residents with easy access to retail hubs, including City Centre Mirdiff and Mirdiff 35, as well as Meshrif Park.
Arif Alharmi, managing director and CEO of Amlak Finance, said: We are pleased to announce the completion of Amlaks new residential real estate development in Mirdiff. This project has been fully managed and developed by Amlak and we believe it is well-suited for the market. It will further enhance the value of our real estate investment and fulfill our commitments to our financiers and shareholders. This project is truly a testament to the ongoing success of Amlaks business and further cements our leadership position in the market. We look forward to positively contributing to the future growth of the real estate sector.