Dubai Investments has announced the start of construction of the AED3 billion ($820 milllion) Mirdif Hills project, being developed by its real estate subsidiary Dubai Investments Real Estate Company (DIRC).
Mirdif Hills is a mixed-use residential, commercial and retail development spread across 3.9 million square feet and including 1,054 apartments, a four-star hotel, 128 serviced apartments and a 230-bed hospital.
The groundbreaking ceremony was held in the presence of Khalid Bin Kalban, managing director and CEO of Dubai Investments and chairman of DIRC, Obaid Al Salami, general manager of D, a statement said.
Bin Kalban said: “The sales of Mirdif Hills, launched in December, received phenomenal response from investors and end users, which is a great endorsement of not only the project features but also of Dubai Investments and DIRC’s track record.
“With the groundbreaking ceremony, the company is looking forward to driving the project to completion within the set timeframe.”
Being constructed in two phases, Mirdif Hills is expected to be completed by the fourth quarter of 2018, the statement added.