Memon to invest Dh2.5b in 10 Dubai projects

Dubai: Memon Investments, a Dubai-based property developer and part of the international business conglomerate, the Memon Group of Companies, has announced plans to launch 10 projects collectively valued at Dh2.5 billion in the second half of this year.

The developer further said it has identified master developments in Dubai, including Jumeirah Village South, Dubai Sports City and Mizin, as locations for its new projects, which will include luxury residential, commercial and mixed-use developments.

The announcement is in line with the developer's expansion plans to launch projects in other emirates as well as in Qatar, Oman and Saudi Arabia.

The developer's portfolio is currently valued at Dh410 million and includes residential and commercial projects, including the Champions Towers I, II and III in Dubai Sports City and Cambridge Business Centre in Dubai Silicon Oasis.

"The emergence of high-profile community developments in Dubai, which are continuously gathering global acclaim, signify the emirate's progress in full swing, and as a leading developer who is fully backed with the right vision, resources, and alliances, we are in the optimum position to leverage this opportunity," said Ahmad Shaikhani, managing director, Memon Investments.

"We are confident that our planned Dh2.5 billion investment in Dubai will result in the rise of developments that will be major attractions, , which will be major attractions for both regional and global investors, and we are hoping to do the same as we enter the potential-laden markets of Ajman and Abu Dhabi at a later stage."