Construction of Dubai's $817m Mirdif Hills reaches 50% mark
The 37.2ha project's construction is progressing as scheduled, developer DIRC confirmed
The construction of Dubai Investments’ Mirdif Hills residential project is 50% complete, the developer announced.
Construction works on Mirdif Hills’ Janayen, Nasayem, and Multaqa Avenues are respectively 54%, 50%, and 12% complete.
Mirdif Hills is being developed by the listed developer’s subsidiary, Dubai Investments Real Estate Co (DIRC). It is being constructed in phases, with a total cost in excess of $816.7m (AED3bn).
The mixed-use project is the only freehold development in Dubai’s Mirdif neighbourhood, and has a built-up area of 37.2ha. It features a four-star Millennium-branded hotel that comprises 116 rooms and 128 serviced apartments. Additional assets within the project include retail units, a 230-bed hospital, and 1,500 apartments spread across studios, duplexes, and one-, two-, and three-bedroom layouts.
Commenting on the project, Obaid Mohammed Al Salami, general manager of DIRC, said: “We are pleased to reveal that the construction of Mirdif Hills is progressing on schedule while adhering to the highest quality standards our residents and investors can expect.”
In August 2017, DIRC signed a $299.4m (AED1.1bn) financing deal with First Abu Dhabi Bank (FAB) and Abu Dhabi Commercial Bank (ADCB) for its Mirdif Hills development.