Business | Property
DIFC invests Dh3b in Dubai Pearl
DIFC Investments, the investment arm of the Dubai International Financial Centre (DIFC), announced yesterday that it has invested more than Dh3 billion in the Dubai Pearl project.
- Staff Report
- Published: 23:26 October 7, 2008
- Deyaar, Union deny direct merger talks
- Schumacher lends name to new tower
- Emaar share buyback after next results
- British boxing sensation enters ring to promote Dh200m project in Ajman
- Rufi launches a Dh960m waterfront tower
- A thespian touch to development
- Realtors upbeat despite global gloom
- Dubai Asset hopes to garner 25% of market
- Huge Kwazulu Natal property unveiled
Dubai DIFC Investments, the investment arm of the Dubai International Financial Centre (DIFC), announced on Tuesday that it has invested more than Dh3 billion in the Dubai Pearl project.
The investment was made through DIFC Investments' real estate fund, which was launched recently to tap into the booming property sector in Dubai and the UAE.
The multi-billion dirham fund (about Dh12 billion according to sources) seeks to create a portfolio of quality real estate acquisitions that will yield positive return on equity as the property sector continues to grow.
Dubai Pearl is a Dh15 billion mixed-use luxury project located adjacent to Tecom Investments' knowledge clusters. It is being developed by Pearl Dubai, a consortium of investors led by Al Fahim Group.
The deal takes total sales at the luxury Dubai Pearl development to more than Dh10 billion.
Related Links
Business Editor's choice
-
‘Wrong Way' Krugman
The source of our economic malfunction lies with government-mandated bank regulations
-
Greek exit could make Eurozone stronger
Departure will show limits of bailouts and allow remaining members to act much more like a unit
-
UAE upholds values of free trade
Recently released statistics confirm an established fact, namely that of the UAE embracing the free trade principle in general and imports in particular
