Dubai Islamic Bank has taken full ownership of an equestrian-themed real estate development from its previous owner, Authur Fitzwilliam.

DIB shocked investors in September by repossessing parts of The Plantation Project, which, at its 2004 launch, promised to become one of the world's largest equestrian facilities with air conditioned stables for 800 horses.

In joint statements published on Monday, Dubai's Real Estate Regulatory Authority (Rera) and DIB said that the lender had taken ownership of the project, urging customers and contractors to contact DIB.

DIB is the biggest Islamic bank by market value in the United Arab Emirates. - Reuters