Amlak Finance Completes Its First Property Development in Mirdiff

Press release
Published January 2nd, 2018 - 08:33 GMT
Site Visit-Mirdiff Residential Site Visit MD&CEO & VP REI
Site Visit-Mirdiff Residential Site Visit MD&CEO & VP REI

Amlak Finance PJSC, a leading specialized real estate financier in the Middle East, has announced the completion of its new residential development project in Mirdiff. This marks the first time which Amlak has developed fully-owned property.

The project consists of 54 villas and is scheduled for handover during December 2017. With the completion of the Mirdiff project, these villas are now ready for viewing by potential tenants.

Commenting on the announcement, Arif Alharmi, Managing Director & CEO of Amlak Finance, said, “We are pleased to announce the completion of the Amlak’s first fully owned residential development project in Mirdiff. This project is a testament towards our forward thinking approach and further strengthens our leadership position in the market. Through such developments, we hope to continue to enhance the value of the UAE’s real estate market in addition to fulfilling our commitments to our financiers and shareholders.”

The AED 138 million development includes eighteen land plots, with total built-up area of 180,085 square feet. Each plot consists of three high-end townhouse villas which have four to five bedrooms, private gardens and parking facilities. The project is centrally located in Mirdiff, and provides residents with easy access to retail hubs.

Background Information

Amlak Finance

Amlak Finance PJSC is a leading specialized real estate financier in the Middle East. Since its establishment in November 2000 as the region’s pioneer financial services provider, it has provided its customers with innovative, Sharia-compliant property financing products and solutions designed to meet the rapidly evolving market demands.

It was first established as a private shareholding company in Dubai, United Arab Emirates, in accordance with UAE Federal Law. In 2004, it was converted to a Public Joint Stock Company.

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