Dubai-Based AMIS Development Gets First Tranche of AED 5B Investment
October 26, 2025 / Rekaz Insights
Dubai’s luxury real estate market continues to stand out as AMIS Development announces a major milestone in its growth journey. The company has successfully received the first tranche of investment from the First APAC Fund VCC, a prominent Singapore-based investment fund.
This deployment marks the beginning of a strategic partnership initiated in November 2024, when the Fund signed an MoU to invest up to AED 5 billion in AMIS Development. Want to know more? Read on.
What is First APAC Fund VCC?
First APAC Fund is a variable capital company (VCC) incorporated in Singapore under the VCC Act, capable of forming multiple sub-funds. The fund is managed by Pilgrim Partners Asia (PPA), a licensed fund management company regulated by the Monetary Authority of Singapore (MAS).
To further support investment strategies, Greenback Capital Limited (GBCL), a DIFC-based firm, has been appointed as the Sub-Investment Manager, aiding in evaluating and structuring transactions on behalf of the Sub-Fund.
Darrell Lim, Founding Shareholder and Director of First APAC Fund, echoed this confidence, remarking:
“We are very excited to commence capital deployment in AMIS Development, and the release of this first tranche of funding represents a significant milestone in our collaboration. We have great confidence in AMIS Development’s leadership and its ability to continue delivering outstanding, high-quality real estate projects in Dubai.”
