Amlak Finance, a leading specialised real estate financier in the Middle East, has announced the completion of its new Dh138-million ($38 million) residential development project in the Mirdiff area of Dubai, UAE.

This marks the first time that Amlak has developed fully-owned property, said a statement from Amlak Finance.

The 54-villa project includes 18 land plots with a total built-up area of 180,085 sq ft. Each plot consists of three high-end townhouse villas which have four  to five bedrooms, private gardens and parking facilities. It is due for handover this month.

The project, which is centrally located in Mirdiff, provides residents with easy access to retail hubs, it added.

Arif Alharmi, the managing director and chief executive of Amlak Finance, said: "We are pleased to announce the completion of the Amlak’s first fully-owned residential development project in Mirdiff."

"This project is a testament towards our forward-thinking approach and further strengthens our leadership position in the market. Through such developments, we hope to continue to enhance the value of the UAE’s real estate market in addition to fulfilling our commitments to our financiers and shareholders," he added.-TradeArabia News Service