The Dubai-based real estate development firm “AMIS” has announced that it has received the initial tranche of funding from the “VVC First APAC Fund,” a prominent investment fund in Singapore. This fund signed a memorandum of understanding in November 2024 to invest up to AED 5 billion in AMIS.
This financing will be directed toward supporting both current and future projects of the company, which includes acquiring land in strategic locations such as Meydan and Dubai Islands. The aim of this funding is to accelerate the company’s growth and enhance its project portfolio, as well as provide additional luxury real estate projects to meet the rising demand for high-end residential units in the UAE.
Niraj Mishra, the founder and CEO of AMIS, expressed, “We are thrilled to receive the first tranche of funding from the VVC First APAC Fund. This significant investment will enable us to continue developing residential communities to international standards and expand our land acquisition operations in Dubai. This rapid growth demonstrates the strength of our investment portfolio and reflects the high confidence investors have in our ability to execute exceptional luxury real estate projects.”
Darrell Lim, the founder and contributor to the APAC Fund, added, “We are pleased to support AMIS through this funding, as the release of the first tranche is a significant step in our partnership. We have complete confidence in the leadership of AMIS and its ability to continuously deliver exceptional real estate projects in Dubai. We look forward to partnering together to explore further promising opportunities in the region.”
AMIS’s portfolio includes the “Woodland Residences” project, valued at AED 425 million, which was fully sold by January 2024, along with the “Woodland Terraces” project, currently under construction and expected to be completed in the first quarter of 2027. The company has also launched the “Woodland Crest” project, scheduled for delivery in the second quarter of 2027, alongside strategically acquired lands in the Meydan and Dubai Islands areas for developing luxurious and modern residential projects.
Both AMIS and the VVC First APAC Fund are anticipating additional funding operations which will be conducted based on the company’s progress in executing its growing portfolio and upcoming projects.
The “APAC Fund” was established in the Republic of Singapore and consists of several subsidiary funds, each with a separate entity from the main fund. The fund is managed by Pilgrim Partners Asia (PPA), a licensed Singaporean fund management company authorized by the Monetary Authority of Singapore (MAS) and holds license CMS100612-1 for managing funds in accordance with the Securities and Futures Act (SFA). It also serves as an exempt financial advisor under the Financial Advisers Act (FAA).
PPA has appointed Greenback Capital Limited, a CAT 3C registered firm in the Dubai International Financial Centre, as a subsidiary investment manager to provide investment management services for the fund. Greenback Capital Limited will play a key role in evaluating and structuring the deal on behalf of the subsidiary fund.