First APAC Fund VCC, a leading Singaporean investment fund, has signed a Memorandum of Understanding (MoU) to invest up to Dh5 billion in Dubai-based AMIS Development.
The investment will enable AMIS Development to expand locally and internationally, grow its land bank, enhance its project pipeline, strengthen global brand partnerships and invest in technology and project teams.
The First APAC Fund is managed by Pilgrim Partners Asia (PPA), a Singaporean fund management company licensed by the Monetary Authority of Singapore (MAS). PPA holds a Capital Markets Services License and is an Exempt Financial Adviser under Singapore’s Financial Advisers Act. Greenback Capital Limited (GBCL), a DIFC-based firm in Dubai, has been appointed as Sub-Investment Manager to assist PPA with transaction evaluation and structuring.
AMIS Development’s recent success includes the Woodland Residences project, a Dh425 million development in Meydan’s District 11 featuring a 100-meter swimmable lagoon. The project sold out within a week of its launch and is scheduled for handover in April 2026.
“This investment reaffirms our focus on luxury real estate development and enables us to take on larger projects,” said Neeraj Mishra, Founder and CEO of AMIS Development. “The partnership demonstrates international investor confidence in our ability to deliver exceptional developments and integrated communities with high ROI for investors.”
Darrell Lim, Founder and Shareholder of First APAC Fund VCC, added, “Dubai’s thriving real estate market and AMIS Development’s strong leadership and track record make this an exciting collaboration. We remain committed to identifying high-potential opportunities in key markets.”
