Dubai Investments aims to strengthen foothold in real estate sector – The National

Dubai Investments aims to strengthen foothold in real estate sector – The National

Dubai Investments, a diversified company in which sovereign wealth fund Investment Corporation of Dubai holds a stake, aims to strengthen its foothold in real estate as the sector recovers from the coronavirus pandemic on the back of government initiatives.

"After careful evaluation and in line with the market trends, the group is ... strengthening its foothold in the real estate market, especially with the improved sentiment and demand within the sector from both local and international markets," said Khalid bin Kalban, vice chairman and chief executive of Dubai Investments.

Dubai Investments recently signed an agreement with Ras Al Khaimah master developer Marjan to acquire land and develop a Dh1 billion ($272m) mixed-use waterfront destination on Al Marjan Island. It is also delivering a Dh500 million project in Fujairah with shopping malls, residential and commercial towers and a hotel. In addition, it is developing a Dh3bn mixed-use project in Mirdif with more than 1,000 residential units, an office building and a hotel.