Al Taif Investment, a joint venture of Dubai Investments (DI) and Fujairah Investment Establishment, is set to develop an AED 400 mn mixed-use project in Fujairah, UAE, according to a press release by DI from Sunday.

The project, dubbed Fujairah Business Centre, comprises a 19-storey office tower with a mall and retail units as well as a 228-room hotel tower on an area of 80,058 square meters. The company did however not disclose any details yet about the timeline of the project.

The real estate and property subsidiaries and joint ventures of Dubai Investments, such as Al Taif, account for 62% of DI’s total asset mix.