First APAC Fund VCC, a Singapore-headquartered investment fund, is expected to invest up to 5 billion UAE dirhams ($1.36 billion) in Dubai-based AMIS Development.  

The Fund and and its manager, Singapore-based Pilgrim Partners Asia (PPA), are currently in the process of completing their due diligence on AMIS Development

The real estate developer will use the funding to expand its local and international reach by growing its land bank, project pipeline, global brand partnerships, project team and technology, it said in a press statement.

AMIS Development’s Founder and CEO Neeraj Mishra said the investment reaffirms the company's focus on luxury real estate development and increases its ability to launch larger projects.

In September 2024, the company announced the award of main construction contract for the 'Woodland Residences' project to Dar Al Aayan Contracting.

Read more: Dubai’s AMIS set to initiate tendering process for $116mln Woodland Residences

(Writing by P Deol; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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