Dubai gets Dh5 billion business park

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, unveiled Emirates Towers Business Park, Dubai's new Dh5 billion business district, on Tuesday.

Sheikh Mohammed said this project represents the next phase of infrastructure development that is required for the UAE to meet its growth aspirations. He added that the UAE is continuing its drive to enhance the environment for businesses and the private sector by providing innovative solutions for investors' needs.

He was accompanied by Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai and President of DIFC, and Sheikh Ahmed bin Saeed Al Maktoum, President of Dubai Civil Aviation Authority and CEO and Chairman of the Emirates Group.

Abdulla Ahmed Al Habbai, Chairman of Dubai Holding, briefed Sheikh Mohammed about various components of the project. Masterplanned by Dubai Holding, the development is located between Sheikh Zayed Road and Happiness Street, in close proximity to DIFC. Upon completion, Emirates Towers Business Park will become an integrated business district and will provide a legislative environment with international standards of governance and transparency under the regulations of the DIFC Authority.

The development is the result of collaboration between Dubai Holding and DIFC in response to the increasing demand from international corporations looking to set base in Dubai's business environment.

Emirates Towers Business Park will meet the increasing demand for Grade A office space through high and low-rise office towers. The development will include three five-star hotels. The Jumeirah Group will manage one, while the other two will be managed by international hospitality groups. The development will also offer retail space with a range of international brands and F&B options, a dedicated arena for events and ancillary facilities to support corporates. The development will be interspersed with public parks and will include two covered pedestrian bridges connecting to the DIFC.

Construction will commence by the end of 2017 with completion aimed within four years.

Source: Khaleej Times