Dubai Investments is in talks with banks to raise US$273 million to fund its $816 million Mirdif Hills project in Dubai.
Dubai Investments CEO Khalid Bin Kalban said: “We are in advanced talks with banks to raise AED1 billion to fund the Mirdif project. We are expecting to secure the funds in the coming two to three months. We have increased the number of serviced apartments and added a hospital. In total, we will have 1,400 units, which include apartments, hotel rooms and hospital rooms.”
The company relaunched the Jonathan Dunn Architects-designed project at Cityscape Global 2015.
Kalban said more than 15 companies have submitted bids for the main construction tender: “It will take a month to evaluate the bids. We are hoping to award the contract before year-end with project completion expected in 36 months,” he said.
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