Germany’s Meilenstein announces $327 million UAE construction pipeline

Meilenstein, a German real estate developer, has announced its foray in the UAE market with eight projects worth $327 million.

The projects are to be built in several locations across Dubai, including Mohammed Bin Rashid City (MBR City) within Meydan City, Al Furjan, Dubai Studio City and Dubai Sports City.

Jawad Azizi, Managing Director of Meilenstein Developments, said: “Meilenstein Developments is entering in the UAE market at a time when the real estate sector achieved a high level of maturity backed up with a regulatory environment that protects property buyers, investors, developers and brokers and with a high level of transparency and accountability.”

During the first nine months of 2018, Dubai received 27,174 investments from 21,605 investors, totalling around $13 billion.