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Dubai company dedicates part of $1B investment to 1,000-unit development project

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Dubai company dedicates part of $1B investment to 1,000-unit development project

Reign Holdings aims to invest $1 billion in Dubai's different sectors, including construction and real estate, on behalf of its regulated funds from Far East and Middle East, Arabian Business reported, citing Chairman Samir Salya.

The company's development arm, Arthur & Hardman, plans to build integrated lifestyle communities and deliver more than 1,000 units at its four-star hotel apartments in the city's Jumeirah Village Circle over a three-year period to cash in on the anticipated boost in demand from the Expo 2020 event, the publication added.

Salya expects Dubai's short-term rental market to experience "massive growth" even after Expo 2020 due to an anticipated influx of tourists resulting from the city's growing economy and increasing population.

Reign Holdings has so far delivered up to 400 units in Dubai's Sports City and has residential towers, hotels and skyscrapers in different stages of development in Dubai Marina, Meydan and the Business Bay areas, the Oct. 13 report noted.