Singapore fund invests Dh5 billion in Dubai's AMIS Development
Partnership reflects the fund’s confidence in Dubai’s real estate market
Dubai: Singaporean investment fund First APAC Fund VCC has inked an MoU to invest up to Dh5 billion in AMIS Development – a real estate developer based in Dubai.
AMIS Development has multiple upcoming projects in major areas of Dubai. A statement from both companies explained that the investment by First APAC Fund will be used by AMIS Development to further expand its growth, locally and internationally by growing its land bank, project pipeline, global brand partnerships, project team and investments in technology.
Neeraj Mishra, Founder and CEO of AMIS Development, said, “First APAC Fund VCC’s investment reaffirms our focus on luxury real estate development and increases our ability to launch larger and more exciting projects for our customers.”
Mishra said, “An investment from an internationally well-renowned fund like First APAC Fund also confirms the international investors’ confidence in our mission to deliver exceptional quality of developments and build well-integrated communities while also providing high ROI to investors in our units or projects.”
First APAC Fund is a variable capital company (VCC) incorporated in Singapore under the VCC Act that may form multiple sub-funds, each of which constitutes a separate sub-fund of the Fund (Sub Fund).
The fund is managed by Pilgrim Partners Asia (PPA), a Singaporean fund management company licensed by the Monetary Authority of Singapore (MAS).
Darrell Lim, Founder and Shareholder of the First APAC Fund VCC, stated, “This partnership reflects our commitment to identifying high-potential investment opportunities in key markets. Dubai’s burgeoning real estate sector and AMIS Development’s exceptional leadership team, management systems and track record make this collaboration an exciting prospect.”
The Fund, along with PPA, is currently in the process of completing its due diligence on AMIS Development. PPA has further appointed Greenback Capital Limited, a CAT 3C firm incorporated as a private company in the Dubai International Financial Centre (DIFC) as the Sub Investment Manager (GBCL).
The partnership between AMIS Development and First APAC Fund follows the former’s recent success with the Woodland Residences project, a highly anticipated Dh425 million development located in District 11 of Meydan, just 12 minutes from Downtown Dubai.
The project, which features a 100-meter swimmable lagoon exclusively for residents, was sold out within one week of its launch. The development is scheduled for handover in April 2026.