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The investment will be used by AMIS Development to expand its growth by growing its land bank, project pipeline, global brand partnerships, project team and investments in technology
First APAC Fund VCC (Fund), a Singaporean investment fund, signed Memorandum of Understanding (MOU) to invest up to US $1.35bn in Dubai-based AMIS Development. The partnership is said to reflect the fund’s confidence in Dubai’s real estate market and AMIS Development’s reputation for high-value developments.
AMIS Development has multiple upcoming projects in areas of Dubai that have received high interest from its customers, investors and partners. The investment by First APAC Fund will be used by AMIS Development to further expand its growth, both locally and internationally by growing its land bank, project pipeline, global brand partnerships, project team and investments in technology. AMIS Development’s portfolio represents innovative design, amenities, and prime locations.
Neeraj Mishra, Founder and CEO of AMIS Development said: “We are proud to partner with First APAC Fund VCC, a globally respected fund with a proven track record. Their investment reaffirms our focus on luxury real-estate development and increases our ability to launch larger and more exciting projects for our customers. An investment from an international well renowned fund like First APAC Fund also confirms the international investors’ confidence in our mission to deliver truly exceptional quality of developments and to build well-integrated communities, while also providing high ROI to investors in our units or projects.”
Darrell Lim, Founder and Shareholder of the First APAC Fund VCC added: “This partnership reflects our commitment to identifying high-potential investment opportunities in key markets. Dubai’s burgeoning real estate sector and AMIS Development’s exceptional leadership team, management systems and track record make this collaboration an exciting prospect.”
The Fund along with PPA is currently in the process of completing its due diligence on AMIS Development. PPA has further appointed Greenback Capital Limited, a CAT 3C firm incorporated as a private company in the Dubai International Financial Centre (DIFC), as the Sub Investment Manager (GBCL) to provide sub-investment management services to the Fund Manager, in respect of the Sub-Fund. GBCL will aid in evaluating and structuring the Transaction on behalf of the Sub-Fund. |
