Dubai Investments real estate projects generate investor interest

Mirdif Hills project rendering
Updated 15 September 2017

Dubai Investments real estate projects generate investor interest

Dubai Investments PJSC, a leading diversified investment company listed on the Dubai Financial Market, has announced that its real estate projects worth over 4.5 billion dirhams ($1.2 billion) across the UAE are generating investor interest, amidst optimistic trends in the real estate sector in the country.
Dubai Investments is currently developing the Mirdif Hills project in Mirdif through Dubai Investments Real Estate Company; Green Community DIP — West Phase 3 in Dubai Investments Park through its subsidiary Properties Investment; and Fujairah Business Center in Fujairah through Al-Taif Investment, besides a number of other residential projects.
Dubai Investments currently has one of the largest land banks in the UAE, and plans to develop projects with over 20 million square feet gross floor area (GFA) in the next two years. The land banks, owned by DI subsidiaries — DIP, DIRC and Properties Investment, includes nearly 15 million square feet GFA within DIP and at strategic locations across the UAE.
Projects, which are either in planning or finalization stage, include a tower on Sheikh Zayed Road, residential buildings in Al-Nahda, Al-Barsha, Jumeirah Village Circle, Meydan and Abu Dhabi and a hotel in Bur Dubai, among others. Other projects include expansion of The Market shopping arcade in Green Community — DIP and two residential buildings in DIP.
The current projects will boost Dubai Investments’ market presence in the real estate sector, the company said. Its assets in the sector constitute over 65 percent of its total asset mix and is worth 10.82 billion dirhams, as of June 30.
Khalid bin Kalban, managing director and CEO of Dubai Investments, said: “The UAE real estate market is characterised by strong fundamentals and the government’s strategy further accentuates its reputation as the preferred investment destination in the Middle East with ample opportunities to drive added value. The real estate projects by Dubai Investments are aimed at not only rejuvenating the sector but also boosting the strong growth potential on offer.”
He added: “As a company, Dubai Investments continues its strong thrust in developing its real estate portfolio in the UAE over the next two to three years to take advantage of renewed market interest and investor confidence, particularly in the wake of the infrastructure projects to be announced for Expo 2020.”


STC offers free 5G service for two months

Nasser Al-Nasser CEO of STC
Updated 12 November 2019

STC offers free 5G service for two months

Saudi Telecom Company (STC) is offering its 5G services free of cost for a period of two months starting from the subscription date. This service will enable customers to benefit from high speeds based on STC’s strong network in the Kingdom.
STC CEO Nasser Al-Nasser confirmed the group’s commitment to continue leading in the 5G era, highlighting its leadership as the first operator in the Kingdom and the Middle East to launch the live network for 5G in May 2018.
The telecom giant had deployed its 5G network at 196 sites in Makkah, Madinah and other holy places, such as Mina, Arafat and Muzdalifah during Hajj this year.
“The launch of the 5G package reflects STC’s commitment to its pivotal role as a key enabler of digital transformation and the development of the telecommunications and information technology sector in the Kingdom,” Al-Nasser added.