Dubai Investments has broken ground on Al Vista in Meydan Horizon and signed the main construction contract with JV Hourie Paramount, moving the project into delivery. Dubai Investment Real Estate, the group’s wholly owned real estate subsidiary, is developing the scheme as a unified masterplan with residential, commercial and retail components.
Khalid bin Kalban, Vice Chairman and CEO of Dubai Investments, and Obaid Salami, General Manager of Dubai Investment Real Estate, attended the ceremony with senior company representatives and the contractor. DIR has not disclosed project value, sales details or a completion timetable.
DIR used the ceremony to formalise the main construction award under the approved execution plan. Contract signature gives JV Hourie Paramount responsibility for site execution and pushes Al Vista beyond the preconstruction stage.
Salami said Al Vista reflects “a disciplined approach to development, anchored in quality, execution certainty and long-term value creation”. Salami added that main construction is underway and that DIR intends to deliver planned projects in growth locations across Dubai.
Project structure gives Dubai Investments exposure across several revenue lines within one asset. Residential stock can support sales or leasing. Commercial inventory creates office leasing potential. Retail units can serve occupiers, visitors and nearby demand once the scheme reaches operation.
Towers combine homes, offices and retail
Al Vista will include a 39-storey residential tower with 312 apartments across one, two and three-bedroom layouts. A 19-storey commercial tower will add about 120,000 sq ft of shell and core office space. Retail components will sit within the same development.
Apartment mix gives DIR access to a broader buyer and tenant pool than a single-format project. Office space at the shell and core stage gives occupiers flexibility over fit-out and use. Retail allocation adds another income stream and supports daily service demand inside the development.
DIR said design plans include lifestyle and recreational amenities for residents and commercial occupiers. Amenity provision is intended to support a connected urban setting inside Meydan Horizon, where developers continue to target integrated projects rather than standalone buildings.
DIR expands its Dubai real estate pipeline
Al Vista adds another active site to DIR’s Dubai portfolio at a time when mixed-use projects continue to dominate new launches across established growth corridors. Residential supply remains a central part of that formula, though office and retail elements are increasingly being folded into the same schemes to widen utilisation and improve occupancy dynamics.
Meydan Horizon gives Al Vista that format from launch. DIR is combining 312 apartments, office inventory and retail stock within one address, rather than splitting those uses across separate plots. Execution will now depend on construction pace, leasing depth and how quickly the project can convert design plans into finished space.
