Amlak Finance launches fully-owned property development in Mirdiff

24/07/2017 09:33 AST

Amlak Finance PJSC, a leading specialized real estate financier in the Middle East, has announced the completion of the first phase of its new residential development project in Mirdiff. This marks the first time which Amlak has developed a fullyowned property.

The project consists of 54 villas and is scheduled for completion by Q4 of this year. The handover of the developments will be across three phases: Phase 1 will be handed over by August, Phase 2 will be handed over by the end of September, and Phase 3 will be by the end of November. As part of Phase 1 of development, one mock-villa is completed and available for viewing by potential tenants.

The AED 135 million development includes eighteen land plots, with total area of 136,224 square feet. 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.

Commenting on the announcement, Arif Alharmi, Managing Director & CEO of Amlak Finance, said: "We are pleased to announce the completion of Amlak's 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 Amlak's 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."

Press Release