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Singaporean investment fund First APAC will invest up to AED 5 bn in Dubai-based real estate firm AMIS Development, the firm said in a statement. The Fund is managed by Singaporean fund management company Pilgrim Partners Asia (PPA), which is currently completing its due diligence on AMIS Development, according to a press release.
Where will the funds go? AMIS Development will use the funds to grow its land bank, project pipeline, global brand partnerships, team, and investments in technology.
ADVISORS- PPA appointed Greenback Capital to aid in evaluating and structuring the transaction and provide sub-investment management services.
REMEMBER- AMIS Development awarded a construction contract to Dar Al Aayan Contracting last month to build its AED 425 mn Woodland Residences project in District 11 of Meydan.
