#PROJECT: MIRDIFF HILLS

***bizzybonita*** · August 3rd, 2008, 11:24 PM

Dubai Investments launch Dh.2bn Mirdiff Hills mixed-use development in Dubai

Dubai Investments (DI), through its real estate arm Dubai Investments Real Estate Company (DIRC), has announced plans to launch the Dh.2bn Mirdiff Hills mixed-use development in Dubai.

Being the latest in a series of mega projects launched by DI, Mirdiff Hills is considered a self-contained community with corporate offices, residential apartments and retail outlets.

The project, with a total built-up area of 2.7mn Square Feet, includes all modern facilities including clubhouse, swimming pool, playschools, internet connectivity, children play area, cafes, and 24-hour security.

Speaking during the launch of the project, the Managing Director and CEO of DI, Khalid Kalban, mentioned that DIRC aims to play a leading role in regional property sector, and through the launch of Mirdiff Hills the company plans to take a considerable step towards achieving objectives and consolidating the market presence of the company.

He revealed that several other prestigious projects are in pipeline, and DIRC is all set to expand its growing portfolio and presence in UAE realty sector.

Mirdiff Hills is a landmark project, and is likely to be one of the most desired mixed-use destinations in Dubai. With a unique blend of residential, retail and commercial units, together with world-class and leisure amenities, Mirdiff Hills will be a good self-sustained township, which offers tenants a comfortable community lifestyle, described Obaid Al Salami, the General Manager of DIRC.

Construction has already commenced, and the project will be complete by 2010.

Located in the Mirdiff area of the City, the Mirdiff Hills features 680 comfortable apartments, 380 offices and 129 retail units. Designed by the renowned Dubai-based architects Al Shurooq Engineering Consultants, the construction leaders Al Arif Contracting Company has been appointed as the lead contractor.

DIRC owns a portfolio of excellent mix of residential and commercial projects in UAE, apart from the Dh.14bn mixed-use development that is currently under construction in Ajman. DIRC has also made its presence felt in the hospitality and sports management sectors through its subsidiaries.

nexlite · August 4th, 2008, 07:08 PM

Its first project 'Ritaj' HAS NOT picked up properly .I think, there is very little or no construction activity on RITAJ so its doubtful & will have to think twice in investing in Mirdif Hills .

dubai 26 · August 4th, 2008, 10:32 PM

any one knows where in Mirdif exactly?

nexlite · September 8th, 2008, 12:24 PM

Has anything new come up with this project !!!!!!!!!!!!!

ibkiss · September 9th, 2008, 07:34 PM

I dont think its launched by MIDAS .The renders state its launched by Dubai Investments (DI), through its real estate arm Dubai Investments Real Estate Company (DIRC) .

PLEASE CLEARIFY !!!!!!!!!

docc · September 10th, 2008, 07:12 AM

MIDAS must be one of the developers associated with this project. DIRC must be the master developer and MIDAS must have purchase land for development from them. That's the best that i can think of!

ibkiss · September 10th, 2008, 11:57 PM

Quote:

Originally Posted by docc

MIDAS must be one of the developers associated with this project. DIRC must be the master developer and MIDAS must have purchase land for development from them. That's the best that i can think of!

You mean ure not sure of it !
Appreciate it if u could lemme know proper inside information .

***bizzybonita*** · November 2nd, 2008, 04:27 PM

Nothing on website .
http://www.di-realestate.com

Nish · May 13th, 2009, 12:26 PM

Dear Investors
We have invested in M Holdings Midas towers in Marmooka City(Plot MC09 and MC10) both towers were fully sold out 450million aed. M Holding have since stolen everyones money and disappeared. Todate we have only come accross 1 other investor who even knows about this Fraud. We are trying to join forces with other M holding investors.

They also were selling Mirdiff Hill in deira(15 buildings) and again no one on these projects seem aware that M Holding have stolen everyones money.

If there are any other M Holding investors lets begin to communicate and plan our course of Action.

The master developer of Marmooka City REIA confirms M holding till October 2008 had paid 15million aed for each plot MC09 and MC10. Since then no further land payments were made by M Holding.
According to the General director of REIA investors have a claim to this money.

Dashin.

luv2bebrown · May 14th, 2009, 07:48 AM

shortly before I left mirdif, there was a desert area between the south-eastern most edge of mirdif and mushrif park. they started boarding up that desert area to build something. could be this mirdif hills project.

***bizzybonita*** · July 2nd, 2009, 07:30 AM

Mirdiff Hills investors receive 100% refund

on Thursday, July 02, 2009

Dubai Investments Real Estate Company (DIRC), the real estate arm of Dubai Investments, is giving a 100-per cent refund to its investors on the Mirdiff Hills project, which it has put on hold due to unavailability of mortgage financing.

The Mirdiff Hills project, located in Mirdif, is a Dh2 billion mixed-use development comprising 680 apartments, 380 offices and 129 retail outlets. The project was launched in July last year with completion scheduled for 2010.

"We have put the Mirdiff Hills project on hold because of a lack of availability of mortgage financing on the project. Investors have got back to us saying they cannot pay up for their units," Khaled Kalban, Managing Director and CEO, Dubai Investments, told Emirates Business in an exclusive interview. He said refunds of initial down payments on the project have been made to the investors.

"We have started to repay the investors' down payments in the project. There are many who would have wanted to remain invested and have taken the cheques from us reluctantly," he said.

DIRC would continue with the project should the lending scenario improve in Dubai, he said. "The Mirdiff Hills project is a product with a lot of potential as there is good demand for such properties."

Meanwhile, Dubai Investments' Fujairah-based partner, Al Taif Investments, will also be cancelling one of its projects – The Market, a mixed-use development with offices and a hospitality segment launched in March last year.

In June 2007, Dubai Investments partnered with the Fujairah Investment Establishment (FIE), the investment arm of the Fujairah Government, to launch Al Taif Investments, a Dh500 million joint-venture investment house for real estate and industry projects. Dubai Investments acquired a stake of 60 per cent in the joint venture, with the remaining 40 per cent owned by FIE.

"Al Taif Investments launched the Fujairah Business Park and The Market at the same time. Since we are expanding the business tower in the Fujairah Business Park, we decided to cancel The Market project. Our market research showed a high-end project is unlikely to work out in current market conditions," said Kalban.

According to Dubai Investments, The Market was built to be leased out, and so no investors have bought into the project. "No sale was made on the retail front and it was to be sold only when the project was completed," said Kalban. The Fujairah Business Park comprises two towers, a 44-storey office tower and a 31-storey tower comprising 424 hotel rooms and apartment units. The hotel tower will also feature a two-level shopping mall spread over more than 300,000 sq ft of retail area.

"We have floated a tender for a construction contractor on the project," he said.

Meanwhile, DIRC also said it will begin handing over the first phase of its residential project Ritaj in Dubai Investments Park. Ritaj was launched in October 2006, and the handover of the first phase of the project, comprising 900 residential units, is expected soon. Its second phase, comprising 1,200 units, will be delivered in the first quarter of 2010.

Kalban said the real estate sector in Dubai is not showing any immediate signs of recovery but there are signs of stabilisation in prices. "The decline in prices have almost stopped," he said.

Kalban also said Dubai's real estate sector is set to witness the emergence of long-term "opportunistic investors" looking to take advantage of the good property prices. "There are indications of the existence of many opportunistic investors trying to buy on the basis of prices that have now come down to reasonable levels. They can afford these investments based on the assumption the return would be about eight to 10 per cent per annum. They are not speculators but long-term investors, who will absorb a lot of the existing properties in Dubai," he said.

Dubai banks had started to drop deposit rates, he added. "Investors with cash will have to utilise it in one way or another, by either buying into stocks and shares or by buying into the real estate sector," said Kalban.

Speaking about the subsidiary Emicool, he said Dubai Investments is finalising a partner to take over Union Properties' stake in it. "Dubai Investments has a 50 per cent stake in Emicool and since our partner Union Properties said they intend selling their stake, we are seeing a few potential investors who desire to take over Union Properties' stake," said Kalban.

"Dubai Investments would like to bring in a strategic investor who has the knowledge of the industry. We are trying to sell the stake to a French company specialised in district cooling. However, because of the global crisis, the idea is on hold. We are in the evaluation stage and will go with the deal if the price is right," he said. Kalban did not divulge the name of the company or the price involved in the negotiations.

http://business24-7.ae/Articles/2009...13c533232.aspx

landoc · July 27th, 2009, 11:40 AM

it is just daunting to see Dubai real estate so vigorously defying economic predictions for the future. It just seems like a world apart from the one we live in. I daily follow Dubai property market from this property in Dubai news website and I have to say I amaze myself every day with the growth news stories... It's just fantastic. I wonder what makes it be like that!

ouseh · October 7th, 2009, 05:57 PM

hi all am interested in buying a studio flat in mirdif hills ...email me the detail at ouseh@hotmail.com

dr manea · December 5th, 2009, 05:04 PM

i am investor in mirdif hills but i did not get any refund , do any one know how we can get it?

regards

The-King · November 14th, 2010, 02:01 PM

22/10/10
Landscaping has started in the gardens and public areas. The whole area will look awesome with the Mushrif Park in the direct neighborhood, a green oasis in the city

http://www.flickr.com/photos/sk3l/51...n/photostream/

mrcool7 · June 14th, 2011, 08:50 AM

Hello there,
Is there any seo office in mirdif hills ?
I want to know.

Face81 · June 16th, 2011, 10:49 AM

Quote:

Originally Posted by The-King

22/10/10
Landscaping has started in the gardens and public areas. The whole area will look awesome with the Mushrif Park in the direct neighborhood, a green oasis in the city

http://www.flickr.com/photos/sk3l/51...n/photostream/

I know it's late, but that's Ghoroob, not Mirdiff Hills

Face81 · July 16th, 2012, 12:29 PM

Dubai Investments Real Estate Company (DIRC), a subsidiary of publicly- listed Dubai Investments, is planning to re-launch the Dh2-billion Mirdiff Hills project and develop a five-star hotel in Dubai Maritime City, Emirates 24|7 can reveal. “We are thinking of launching phase one of the Mirdiff Hills project since designs are already approved by the authorities.

............

Mirdiff Hills, which is registered with the Dubai Land Department, is the only freehold development in Mirdiff. The mixed-use development, comprises 680 apartments, 380 offices and 129 retail outlets.

http://www.emirates247.com/news/emir...07-16-1.467434

August 3rd, 2008, 11:24 PM	#1
*bizzybonita* ĐЯ ฿฿ שίŧђ Ħīĝђ קΘฬξЯ Join Date: Jul 2006 Posts: 11,493 Likes (Received): 2	#PROJECT: MIRDIFF HILLS Dubai Investments launch Dh.2bn Mirdiff Hills mixed-use development in Dubai Dubai Investments (DI), through its real estate arm Dubai Investments Real Estate Company (DIRC), has announced plans to launch the Dh.2bn Mirdiff Hills mixed-use development in Dubai. Being the latest in a series of mega projects launched by DI, Mirdiff Hills is considered a self-contained community with corporate offices, residential apartments and retail outlets. The project, with a total built-up area of 2.7mn Square Feet, includes all modern facilities including clubhouse, swimming pool, playschools, internet connectivity, children play area, cafes, and 24-hour security. Speaking during the launch of the project, the Managing Director and CEO of DI, Khalid Kalban, mentioned that DIRC aims to play a leading role in regional property sector, and through the launch of Mirdiff Hills the company plans to take a considerable step towards achieving objectives and consolidating the market presence of the company. He revealed that several other prestigious projects are in pipeline, and DIRC is all set to expand its growing portfolio and presence in UAE realty sector. Mirdiff Hills is a landmark project, and is likely to be one of the most desired mixed-use destinations in Dubai. With a unique blend of residential, retail and commercial units, together with world-class and leisure amenities, Mirdiff Hills will be a good self-sustained township, which offers tenants a comfortable community lifestyle, described Obaid Al Salami, the General Manager of DIRC. Construction has already commenced, and the project will be complete by 2010. Located in the Mirdiff area of the City, the Mirdiff Hills features 680 comfortable apartments, 380 offices and 129 retail units. Designed by the renowned Dubai-based architects Al Shurooq Engineering Consultants, the construction leaders Al Arif Contracting Company has been appointed as the lead contractor. DIRC owns a portfolio of excellent mix of residential and commercial projects in UAE, apart from the Dh.14bn mixed-use development that is currently under construction in Ajman. DIRC has also made its presence felt in the hospitality and sports management sectors through its subsidiaries. __________________ ฿ĪẐẐΫ ฿Ǿ₦ŦẪ 2013

August 4th, 2008, 07:08 PM	#2
nexlite Buddy Join Date: Jun 2008 Posts: 69 Likes (Received): 0	Doubtful Its first project 'Ritaj' HAS NOT picked up properly .I think, there is very little or no construction activity on RITAJ so its doubtful & will have to think twice in investing in Mirdif Hills .

July 2nd, 2009, 07:30 AM	#11
*bizzybonita* ĐЯ ฿฿ שίŧђ Ħīĝђ קΘฬξЯ Join Date: Jul 2006 Posts: 11,493 Likes (Received): 2	Mirdiff Hills investors receive 100% refund on Thursday, July 02, 2009 Dubai Investments Real Estate Company (DIRC), the real estate arm of Dubai Investments, is giving a 100-per cent refund to its investors on the Mirdiff Hills project, which it has put on hold due to unavailability of mortgage financing. The Mirdiff Hills project, located in Mirdif, is a Dh2 billion mixed-use development comprising 680 apartments, 380 offices and 129 retail outlets. The project was launched in July last year with completion scheduled for 2010. "We have put the Mirdiff Hills project on hold because of a lack of availability of mortgage financing on the project. Investors have got back to us saying they cannot pay up for their units," Khaled Kalban, Managing Director and CEO, Dubai Investments, told Emirates Business in an exclusive interview. He said refunds of initial down payments on the project have been made to the investors. "We have started to repay the investors' down payments in the project. There are many who would have wanted to remain invested and have taken the cheques from us reluctantly," he said. DIRC would continue with the project should the lending scenario improve in Dubai, he said. "The Mirdiff Hills project is a product with a lot of potential as there is good demand for such properties." Meanwhile, Dubai Investments' Fujairah-based partner, Al Taif Investments, will also be cancelling one of its projects – The Market, a mixed-use development with offices and a hospitality segment launched in March last year. In June 2007, Dubai Investments partnered with the Fujairah Investment Establishment (FIE), the investment arm of the Fujairah Government, to launch Al Taif Investments, a Dh500 million joint-venture investment house for real estate and industry projects. Dubai Investments acquired a stake of 60 per cent in the joint venture, with the remaining 40 per cent owned by FIE. "Al Taif Investments launched the Fujairah Business Park and The Market at the same time. Since we are expanding the business tower in the Fujairah Business Park, we decided to cancel The Market project. Our market research showed a high-end project is unlikely to work out in current market conditions," said Kalban. According to Dubai Investments, The Market was built to be leased out, and so no investors have bought into the project. "No sale was made on the retail front and it was to be sold only when the project was completed," said Kalban. The Fujairah Business Park comprises two towers, a 44-storey office tower and a 31-storey tower comprising 424 hotel rooms and apartment units. The hotel tower will also feature a two-level shopping mall spread over more than 300,000 sq ft of retail area. "We have floated a tender for a construction contractor on the project," he said. Meanwhile, DIRC also said it will begin handing over the first phase of its residential project Ritaj in Dubai Investments Park. Ritaj was launched in October 2006, and the handover of the first phase of the project, comprising 900 residential units, is expected soon. Its second phase, comprising 1,200 units, will be delivered in the first quarter of 2010. Kalban said the real estate sector in Dubai is not showing any immediate signs of recovery but there are signs of stabilisation in prices. "The decline in prices have almost stopped," he said. Kalban also said Dubai's real estate sector is set to witness the emergence of long-term "opportunistic investors" looking to take advantage of the good property prices. "There are indications of the existence of many opportunistic investors trying to buy on the basis of prices that have now come down to reasonable levels. They can afford these investments based on the assumption the return would be about eight to 10 per cent per annum. They are not speculators but long-term investors, who will absorb a lot of the existing properties in Dubai," he said. Dubai banks had started to drop deposit rates, he added. "Investors with cash will have to utilise it in one way or another, by either buying into stocks and shares or by buying into the real estate sector," said Kalban. Speaking about the subsidiary Emicool, he said Dubai Investments is finalising a partner to take over Union Properties' stake in it. "Dubai Investments has a 50 per cent stake in Emicool and since our partner Union Properties said they intend selling their stake, we are seeing a few potential investors who desire to take over Union Properties' stake," said Kalban. "Dubai Investments would like to bring in a strategic investor who has the knowledge of the industry. We are trying to sell the stake to a French company specialised in district cooling. However, because of the global crisis, the idea is on hold. We are in the evaluation stage and will go with the deal if the price is right," he said. Kalban did not divulge the name of the company or the price involved in the negotiations. http://business24-7.ae/Articles/2009...13c533232.aspx __________________ ฿ĪẐẐΫ ฿Ǿ₦ŦẪ 2013

July 27th, 2009, 11:40 AM	#12
landoc Registered User Join Date: Jul 2009 Posts: 1 Likes (Received): 0	amazing it is just daunting to see Dubai real estate so vigorously defying economic predictions for the future. It just seems like a world apart from the one we live in. I daily follow Dubai property market from this property in Dubai news website and I have to say I amaze myself every day with the growth news stories... It's just fantastic. I wonder what makes it be like that!

October 7th, 2009, 05:57 PM	#13
ouseh Registered User Join Date: Mar 2008 Posts: 11 Likes (Received): 0	ready to buy in mirdiff hills hi all am interested in buying a studio flat in mirdif hills ...email me the detail at ouseh@hotmail.com

August 4th, 2008, 10:32 PM	#3
dubai 26 mar7ba alsaa3 Join Date: Aug 2006 Location: Dubai Posts: 245 Likes (Received): 0	any one knows where in Mirdif exactly?

September 8th, 2008, 12:24 PM	#4
nexlite Buddy Join Date: Jun 2008 Posts: 69 Likes (Received): 0	Has anything new come up with this project !!!!!!!!!!!!!

September 9th, 2008, 07:34 PM	#5
ibkiss Registered User Join Date: Jun 2008 Location: dubai Posts: 34 Likes (Received): 0	I dont think its launched by MIDAS .The renders state its launched by Dubai Investments (DI), through its real estate arm Dubai Investments Real Estate Company (DIRC) . PLEASE CLEARIFY !!!!!!!!!

September 10th, 2008, 07:12 AM	#6
docc Registered User Join Date: Jun 2004 Location: Dubai Posts: 2,825 Likes (Received): 0	MIDAS must be one of the developers associated with this project. DIRC must be the master developer and MIDAS must have purchase land for development from them. That's the best that i can think of!

November 2nd, 2008, 04:27 PM	#8
*bizzybonita* ĐЯ ฿฿ שίŧђ Ħīĝђ קΘฬξЯ Join Date: Jul 2006 Posts: 11,493 Likes (Received): 2	Nothing on website . http://www.di-realestate.com

May 13th, 2009, 12:26 PM	#9
Nish Registered User Join Date: Sep 2008 Posts: 24 Likes (Received): 0	Dear Investors We have invested in M Holdings Midas towers in Marmooka City(Plot MC09 and MC10) both towers were fully sold out 450million aed. M Holding have since stolen everyones money and disappeared. Todate we have only come accross 1 other investor who even knows about this Fraud. We are trying to join forces with other M holding investors. They also were selling Mirdiff Hill in deira(15 buildings) and again no one on these projects seem aware that M Holding have stolen everyones money. If there are any other M Holding investors lets begin to communicate and plan our course of Action. The master developer of Marmooka City REIA confirms M holding till October 2008 had paid 15million aed for each plot MC09 and MC10. Since then no further land payments were made by M Holding. According to the General director of REIA investors have a claim to this money. Dashin.

May 14th, 2009, 07:48 AM	#10
luv2bebrown Registered User Join Date: Nov 2004 Location: Unknown Posts: 2,396 Likes (Received): 18	shortly before I left mirdif, there was a desert area between the south-eastern most edge of mirdif and mushrif park. they started boarding up that desert area to build something. could be this mirdif hills project.

December 5th, 2009, 05:04 PM	#14
dr manea Registered User Join Date: Dec 2009 Posts: 2 Likes (Received): 0	refund i am investor in mirdif hills but i did not get any refund , do any one know how we can get it? regards

November 14th, 2010, 02:01 PM	#15
The-King Registered User Join Date: Mar 2008 Location: Pliezhausen Posts: 2,342 Likes (Received): 10	Construction Update 22/10/10 Landscaping has started in the gardens and public areas. The whole area will look awesome with the Mushrif Park in the direct neighborhood, a green oasis in the city http://www.flickr.com/photos/sk3l/51...n/photostream/

June 14th, 2011, 08:50 AM	#16
mrcool7 Registered User Join Date: Jun 2011 Posts: 8 Likes (Received): 0	Hello there, Is there any seo office in mirdif hills ? I want to know. __________________ Dubai Used Furniture

July 16th, 2012, 12:29 PM	#18
Face81 Registered User Join Date: Aug 2004 Location: London \| Dubai Posts: 5,336 Likes (Received): 35	Dubai Investment arm may relaunch Mirdiff Hills project Dubai Investments Real Estate Company (DIRC), a subsidiary of publicly- listed Dubai Investments, is planning to re-launch the Dh2-billion Mirdiff Hills project and develop a five-star hotel in Dubai Maritime City, Emirates 24\|7 can reveal. “We are thinking of launching phase one of the Mirdiff Hills project since designs are already approved by the authorities. ............ Mirdiff Hills, which is registered with the Dubai Land Department, is the only freehold development in Mirdiff. The mixed-use development, comprises 680 apartments, 380 offices and 129 retail outlets. http://www.emirates247.com/news/emir...07-16-1.467434 __________________ We will never forget any of you... The late Sheikh Maktoum Bin Rashid Al Maktoum [1943 - 2006] The late Sheikh Zayed Bin Sultan Al Nahyan [1918 - 2004] The late Sheikh Rashid Bin Saeed Al Maktoum [1912 - 1990]

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