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Al Mazaya to spend $100m on Dubai property
- United Arab Emirates: Monday, August 24 - 2009 at 13:35
Kuwait-based Al Mazaya Holding plans to invest $100m (Dhs367m) in properties in The Palm Jumeirah, Burj Dubai and Dubai International Financial Centre areas, Emirates Business 24/7 has reported. The move aims to establish an income generating portfolio for the firm, which expects to start buying properties from September. "We have put $50m aside and other investors from Kuwait have committed to invest the other $50m. We feel the market has hit the bottom," Khalid S. Esbaitah, CEO of Al Mazaya Holding said.
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StaffMonday, August 24 - 2009 at 13:35 UAE local time (GMT+4)
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