Amlak's investment worth AED4.5bn

Amlak Finance said on Saturday that the value of its real estate investment portfolio grew to more than AED4.5bn, following the acquisition of six million square feet of land from the Government of Dubai, reported Gulf News. The newly acquired land is located in Al Warqa on Emirates Road and is intended for a multi-use development totalling a gross floor area of 8.5 million square feet, further consolidates Amlak's lead positioning in the real estate finance and investment sector. The newly planned community, to be named Warqa Heights, will house 40,000 residents and will offer residential, commercial and retail space.