Dubai Investments Real Estate Company, a subsidiary of Dubai Investments, has signed a deal for a 1.1 billion dirhams ($299.50 million) loan to develop a residential project in Dubai's Mirdif neighbourhood, the company said on Sunday.
The loan was provided by First Abu Dhabi Bank and Abu Dhabi Commercial Bank, with the former acting as coordinator of the facility. The loan will back the Mirdif Hills real estate development, a residential project near Dubai International Airport with a cost in excess of 3 billion dirhams.