Dubai-Based AMIS Development Gets First Tranche of AED 5B Investment

Dubai’s luxury real estate market continues to stand out as AMIS Development announces a major milestone in its growth journey. The company has successfully received the first tranche of investment from the First APAC Fund VCC, a prominent Singapore-based investment fund.

This deployment marks the beginning of a strategic partnership initiated in November 2024, when the Fund signed an MoU to invest up to AED 5 billion in AMIS Development. Want to know more? Read on.

What is First APAC Fund VCC?

First APAC Fund is a variable capital company (VCC) incorporated in Singapore under the VCC Act, capable of forming multiple sub-funds. The fund is managed by Pilgrim Partners Asia (PPA), a licensed fund management company regulated by the Monetary Authority of Singapore (MAS).

To further support investment strategies, Greenback Capital Limited (GBCL), a DIFC-based firm, has been appointed as the Sub-Investment Manager, aiding in evaluating and structuring transactions on behalf of the Sub-Fund.

Darrell Lim, Founding Shareholder and Director of First APAC Fund, echoed this confidence, remarking:
“We are very excited to commence capital deployment in AMIS Development, and the release of this first tranche of funding represents a significant milestone in our collaboration. We have great confidence in AMIS Development’s leadership and its ability to continue delivering outstanding, high-quality real estate projects in Dubai.”

About the AMIS Development Funding

The initial AMIS Development first tranche investment will be directed toward ongoing and upcoming projects, including high-value land acquisitions in prime locations such as Meydan and the Dubai Islands. This injection of capital underscores the confidence global investors have in AMIS Development’s ability to deliver high-quality luxury real estate projects that cater to the growing demand in the UAE.

Neeraj Mishra, Founder and CEO of AMIS Development, emphasized the importance of this funding milestone, stating:

“This significant investment will allow us to continue developing world-class residential communities and further expand our land acquisitions in Dubai. Our strong growth momentum reflects the strength of our portfolio and the trust that investors have in our ability to deliver outstanding luxury real estate.”

The AMIS Development funding not only strengthens the company’s ability to expand its portfolio but also highlights Dubai’s position as a global hub for real estate investment. The partnership with First APAC Fund demonstrates the appeal of Dubai’s property market to international investors seeking long-term returns.

About AMIS Development Dubai

AMIS Development’s portfolio is already a testament to its strong performance and vision. The Woodland Residences project, sold out in January 2024 for AED 425 million, reflects the high demand for its offerings.

The ongoing Woodland Terraces project is set for completion by 2027, while Woodland Crest is also scheduled for completion in the same year.

With the first tranche deployed, AMIS Development and First APAC Fund are preparing for subsequent capital deployments, which will be released in line with the company’s project progression and expanding pipeline. This partnership will not only fuel AMIS’s ambitious growth plans but also contribute to shaping Dubai’s evolving luxury real estate landscape.