DIRC launching Dh2b in property projects

Dubai Dubai Investments Real Estate Company (DIRC), the real estate arm of Dubai Investments PJSC, will roll out properties worth Dh2 billion, the company said.

Company officials yesterday, also claimed that about 70 per cent of the 2,200 housing units under Ritaj development - its first residential project at Dubai Investments Park has been sold out within a week of its launch.

"The overwhelming interest generated by the Ritaj project is a reflection of the tremendous investor confidence and trust in Dubai Investments Real Estate Company," said Khalid Kalban, managing director and chief executive of Dubai Investments.

"Achieving 70 per cent sales for the first phase that includes 1,100 apartments, in less than a week's time, is certainly commendable Ritaj is a project designed to epitomise the concept of affordable luxury.

The development provides a range of more than 2,200 housing units, including studios, one, two and three bedroom apartments.