Singaporean Fund Makes $1.4 Billion Investment in Dubai Real Estate Developer
Tuesday, 10 December 2024
Dubai-based AMIS Development has entered into a landmark partnership with Singaporean investment fund First APAC Fund VCC through a Memorandum of Understanding (MOU) for a funding commitment of up to AED 5 billion ($1.4 billion). This strategic move underscores global confidence in Dubai’s thriving real estate market and AMIS Development’s luxury-focused offerings.
Key Highlights
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Major Investment:
- AMIS Development secures up to AED 5 billion funding from Singapore’s First APAC Fund VCC.
- This investment fuels AMIS Development’s plans for local and international expansion.
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Strategic Growth Areas:
- Increase in land bank and project pipeline.
- Focus on forming global brand partnerships and advancing project technology.
- Strengthening project teams to deliver cutting-edge developments.
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AMIS Development’s Stellar Track Record:
- Recent success with the Woodland Residences project:
- Located in District 11, Meydan, with an AED 425 million ($116 million) value.
- Features a 100m swimmable lagoon for residents.
- Sold out within one week of launch.
- Scheduled for handover in April 2026.
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About the Investor:
- First APAC Fund VCC is managed by Pilgrim Partners Asia (PPA), a licensed Singaporean fund management firm under the Monetary Authority of Singapore (MAS).
- The Fund plans to establish sub-funds for focused investment strategies.
- Currently, PPA and the Fund are conducting due diligence on AMIS Development.
Expert Perspectives
Neeraj Mishra, Founder and CEO of AMIS Development:
“This partnership with First APAC Fund VCC reaffirms our commitment to delivering luxury real estate and building integrated communities. It also highlights the confidence of international investors in our projects, paving the way for larger, more innovative developments.”
Darrell Lim, Founder and Shareholder of First APAC Fund VCC:
“Dubai’s burgeoning real estate market, combined with AMIS Development’s visionary leadership and proven track record, makes this collaboration an exciting investment opportunity.”
