Amlak Finance has revealed plans to develop a AED 290mn ($79mn) mixed-use project in the Nad Al Hamar area of Dubai. The company added that the project will be developed in collaboration with a prominent asset management company in Dubai, no further details were disclosed.
The new project is scheduled to be completed by the year 2020; the G+14 building will have an approximate total area of 700,000 square feet.
Amlak Finance has completed its first fully-owned property, a new residential development in Mirdiff, in January this year.
Amlak has also revealed that it had signed an agreement with Marseilia Group to develop a mixed-use project in Cairo, Egypt.The project will be built on a plot of land owned by Amlak. It will feature a residential and administration building, a shopping mall, and a hotel.