First APAC Fund Invests $1.36 Billion in AMIS Development

First APAC Fund VCC, a leading Singaporean investment fund, on Tuesday said that it has signed a Memorandum of Understanding (MOU) to invest up to $1.36 billion in Dubai-based real estate firm AMIS Development.

The partnership reflects the First APAC Fund’s confidence in Dubai’s real estate market and AMIS Development’s reputation for high-value luxury developments. AMIS Development has multiple upcoming projects in major areas of Dubai that have already received high interest from its customers, investors and partners.

The investment by First APAC Fund will be used by AMIS Development to further expand its growth, both locally and internationally by growing its land bank, project pipeline, global brand partnerships, project team and investments in technology. AMIS Development’s portfolio represents a convergence of innovative design, superior amenities, and prime locations, promising an elevated living experience that exceeds expectations.

The Fund is incorporated in Singapore that may form multiple sub-funds, each of which constitutes a separate sub-fund of the Fund (Sub-Fund). The Fund is managed by Pilgrim Partners Asia (PPA), a Singaporean fund management company licensed by the Monetary Authority of Singapore (MAS) and holds a Capital Markets Services License for fund management under the Securities & Futures Act (SFA), and is also an Exempt Financial Adviser under the Financial Advisers Act (FAA).

The First APAC Fund, along with PPA, is currently in the process of completing its due diligence on AMIS Development.  PPA has further appointed Greenback Capital Limited (GBCL), a CAT 3C firm incorporated as a private company in the Dubai International Financial Centre (DIFC), as the Sub Investment Manager to provide sub-investment management services to the Fund Manager, in respect of the Sub- Fund.  GBCL will aid in evaluating and structuring the Transaction on behalf of the Sub-Fund.

The partnership between AMIS Development and First APAC Fund follows the former’s recent success with the Woodland Residences project, a highly anticipated $115.71 million project located in District 11 of Meydan, close to Downtown Dubai.

The project, which features a 100-meter swimmable lagoon exclusively for residents, was completely sold out within one week of its launch. The development is scheduled for handover in April 2026.

Luxury Real Estate in Focus

Neeraj Mishra, Founder and CEO of AMIS Development said that the investment from First APAC Fund VCC, a globally respected fund with a proven track record, reaffirmed their focus on luxury real-estate development and increased their ability to launch larger and more exciting projects for AMIS Development’s customers.

“An investment from an international well renowned fund like First APAC Fund also confirms the international investors’ confidence in our mission to deliver truly exceptional quality of developments and to build well-integrated communities, while also providing high ROI to investors in our units or projects,” he added.

Darrell Lim, Founder and Shareholder of the First APAC Fund VCC said that this partnership reflects their commitment to identifying high-potential investment opportunities in key markets. Dubai’s burgeoning real estate sector and AMIS Development’s exceptional leadership team, management systems and track record make this collaboration an exciting prospect, he added.