M HOLDING ACQUIRES 15 FREEHOLD PLOTS WORTH US & #36;167 MLN IN DUBAI
                   
yahoo.com     Jul 21, 2008            

M HOLDING ACQUIRES 15 FREEHOLD PLOTS WORTH US$167 MLN IN DUBAI DUBAI, July 21 Asia Pulse - M Holding, the property development arm of the Mundia Group, has acquired 15 freehold plots of land in Mirdif, Dubai for a total investment of AED 615 million (US$167.4 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. Senior company officials have further revealed plans to develop an AED 3 billion freehold community on the 421,657 sq. ft plot, located within Mirdiff and facing Mushriff Park. Present at the signing ceremony were Yousuf Mundia, CEO, M Holding; Obaid Al Salami,... [read full story]                    


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