Dubai Investments, a leading, diversified investment company, has launched the sales of the Dh3 billion ($816 million) Mirdif Hills, the only freehold project in the Mirdif region of Dubai, UAE.

A mixed-use development featuring 1,054 apartments - a mix of studio, one-, two-, three-bedroom apartments and duplex units - a four-star hotel with 116 rooms and 128 serviced apartments and a 230-bed hospital, is being developed by its real estate subsidiary Dubai Investments Real Estate Company (DIRC).

Mirdif Hills is being constructed in two phases and is expected to be completed by the fourth quarter of 2018. Spread across a sprawling 3.9-million-sq-ft area, the project will boast a mix of commercial and retail space.

Strategically located adjacent Mushrif Park in Dubai with close proximity to Dubai International Airport, leading business districts and shopping malls, Mirdif Hills is replete with all lifestyle attractions in a 24-hour secured gated environment.

It also a wide array of commercial options, retail outlets, community recreation and landscaped gardens spread across three clusters: Al Multaqa Avenue, Janayen Avenue and Nasayem Avenue.

The three clusters of Mirdif Hills will have distinct offerings:

• Al Multaqa Avenue: Located at the heart of the Mirdif Hills masterplan, Al Multaqa Avenue consists of a 116-room hotel, 128 serviced apartments, restaurants, cafes, retail spaces and 300 residential units – a mix of studio and one-bedroom apartments.

• Janayan Avenue: Located around a gated garden with covered walkways, and other lifestyle attractions, the Janayen Avenue comprises a mix of one-, two-, three-bedroom residential apartments and three- and four-bedroom duplexes.

• Nasayem Avenue: Situated at the centre of the masterplan, Nasayem Avenue is surrounded by a gated community garden and a mix of residential buildings ranging from two- and three-bedroom apartments to three- and four-bedroom duplexes.

DIRC has on offer attractive payment plans for the project, wherein the investors can pay up to 50 per cent during the construction phase and the balance on completion, said a top official.

"As one of the leading players in the UAE real estate sector, Dubai Investments continues to develop its portfolio in the domain, amidst surging investor confidence and renewed market interest," remarked Khalid Bin Kalban, the managing director and chief executive of Dubai Investments and chairman of DIRC.

Dubai Investments, he stated, feels the market is right for the launch of its iconic Mirdif Hills project, which offers salient advantages of ideal location, unique attractions and amenities within a self-contained community.

"The UAE real estate market is characterised by strong fundamentals, making it the preferred investment destination in the Middle East and providing ample opportunities to drive added value. The launch of projects such as Mirdif Hills will not only rejuvenate the sector but also accentuate the strong growth potential on offer," he added.

The commercial side of Mirdif Hills holds a lot of appeal, with its exclusive collection of 52 retail outlets and shops, including a piazza, fine dining restaurants and cafes. Mirdif Hills also includes a 230-bed hospital, offering multiple specialties and emergency services, said a statement from the developer.

Another unique aspect of the project is the Vertical Villas, an architectural concept gaining international popularity, within the Janayen Avenue.

Inspired by French architect Le Corbusier, the Vertical Villas series comprises many villas, built in one single building and rising up vertically giving it a sustainable and green look, it added.-TradeArabia News Service