What is DIC Resort Private Token Offering?
DIC EAST DMCC FZE a company registered in the Dubai Multi Commodities Center Free Zone is the landowner for the two plots HRL 05 and HRL 06 sites, both dedicated for the development of the pre-selected Steigenberger Hotel & Resort on Al Marjan Island, and has entered into a Joint Venture with FAM HOLDING, a Dubai based prominent real estate developer and contractor, to undertake the development and the construction of this 225 million USD project.
The Directors of DIC EAST DMCC and FAM HOLDING respectively, Dr. Lubos Riha and Dr. Faisal Ali Mousa together with their professional and highly experienced teams, have joint their efforts to ensure that this development and the funds collected for this purpose will be managed properly and diligently.
Under this newly formed equally owned Joint Venture “DIC-FAM”, both founders are set to contribute their respective assets, cash plus lands for DIC and cash plus development cost, including construction for FAM HOLDING. To date both parties have injected into the JV in cash over 15 million USD of their own equity and continue to do so as to such extent that the cash equity founders contribution by the end of 2019 will stand at 25 million USD.