Dubai: Real estate developer Mizin yesterday said it has sold more than 20 million square feet of built-up area to investors since its launch four months ago.
Sami Al Hashmi, chief executive of Mizin, said, "After launching three multi-million square feet projects in less than four months, Mizin has met its land sales target.
"Buyers and investors have snapped up more than 60 million gross floor area, equivalent to more than 20 million square feet of land area, valued at more than Dh4.6 billion."
He said Mizin's first project - Liwan - has been sold out. Spread across 13 million square feet, and located near Academic City and Dubai Silicon Oasis, Liwan is a landmark development with 100 separate residential complexes and six iconic business towers.
He said, "Of the other two, 85 per cent of Majan, a mixed-use development incorporating residential, retail and commercial units spread across 16.5 million square feet, has been sold out. Arjan, a mixed-use Dh20 billion project, to be built over the next three years on an area of 20 million square feet, is 75 per cent sold out."
