M. Holding, the property development arm of the Mundia Group, has acquired 15 freehold plots of land in Mirdiff, Dubai for a total investment of AED615 million. The purchase of the land from the Dubai Investments Real Estate Company (DIRC), the real estate arm of Dubai Investments PJSC, marks the developer's foray into the booming Dubai real estate market and follows the successful launch and sellout of its two projects in Ajman - Midas Executive I and II. Plans to develop an AED3 billion freehold community on the 421,657 sq. ft plot, located within Mirdiff and facing Mushriff Park were also disclosed. Present at the signing ceremony were Yousuf Mundia, CEO, M. Holding; Obaid Al-Salami, general manager, DIRC; and Mehar Amar Aziz, general manager, M. Holding. With plans to develop the first freehold community in Mirdiff, the developer has appointed Al-Shurooq Architecture & Engineering Consultants as the architect and design consultants for the project, which will offer over 1.9 million sq. ft of built-up area. Further, the integrated mixed-use community will incorporate a total of 15 G+4 buildings with 12 of the buildings being earmarked for residential purposes and the remaining 3 for commercial use, 2 shopping malls, retail areas, community centers and a host of world-class amenities. __
