Wednesday 27 March 2019

Fidu set to invest $1.36bn in UAE real estate by 2021

DUBAI, July 16, 2018

Fidu Properties, a leading Chinese company in the UAE property market, has announced massive expansion plans in the region, with over Dh5 billion ($1.36 billion) worth of investments in the UAE alone over the next three years.

The company, which opened its regional office in Dubai this April, is also keen to expand its footprint in the region amidst bullish trends expected in the real estate sector, said a statement from the Chinese group.

Fidu aims to operate over 450 branches across GCC and the Asian subcontinent in the next three years. Through this aggressive expansion, the company aims to create around 3,000 jobs in the region and beyond, it stated.

The strong expansion plans reinforces Fidu Properties’ commitment to the region, and the strong potential it sees in the real estate growth across UAE, the GCC and beyond, it added.

The new plans have been unveiled close on the heels of Fidu Properties’ announcement to invest about Dh2 billion in the Dubai real estate sector by the year end. As part of this, the company plans to introduce different real estate projects in Dubai to its high profile list of investors.

Amit Dahima, the marketing manager of Fidu Properties, said: "Fidu Properties is bullish about the growth potential of the real estate sector in the UAE. We feel the growth in the coming years would be phenomenal, particularly in the real estate sector which represents one of the strategic priorities of Foreign Direct Investments into the UAE."

Dahima pointed out that the UAE government was also fuelling the optimism with a number of investor-friendly decrees and incentives which will definitely boost the flow of investments into the country.

"Fidu also recently announced multiple real estate deals worth Dh380 million with Emaar Properties for residential and commercial spaces spanning 210,000 sq ft at The Grand in Dubai Creek Harbor – the iconic tower being built at the world-class waterfront destination in the emirate," he added.-TradeArabia News Service

Tags: UAE | real estate investments |

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