Al Mazaya to invest $100m in Dubai Property

Al Mazaya Holding plans to invest $100m or AED 367 million in properties in The Palm Jumeirah, Burj Dubai and Dubai International Financial Centre areas. The move aims to set up an income generating portfolio for the firm, which expects to start buying properties from September. 'We have put $50m aside and other investors from Kuwait have committed to invest the other $50m. We feel the market has hit the bottom,' Khalid S. Esbaitah, CEO of Al Mazaya Holding said.