Lead developer Al Fajer Properties announces the start of construction of two new
exclusive office buildings - Jumeirah Business Center 3 and 4, which will appear in
prestigious area of Jumeirah Lake Towers. Investments in the project amounted to $ 136 million.
In Dubai, famous for the tremendous pace of construction, there is a catastrophic shortage of commercial real estate: there are innumerable projects of residential complexes, but the situation with office premises is much more complicated. Therefore, it is not surprising that just two months after the first two buildings of the exclusive Jumeirah Business Center (JBC) - JBC 1 and JBC 2 - entered the market and their record sales were fast, the real estate developer Al Fajer Properties announced the start of construction of two more office towers - JBC 3 and JBC 4.
Note that the areas in JBC 3 were sold out in just three days from the date of preliminary launch on the market, which was reported to the general public at
press conferences in the famous hotel - "sail" Burj Al Arab.
Al Fajer Properties, part of Al Fajer Enterprises, founded in 1965 under the patronage of His Highness Sheikh Husher bin Maktoum Al Maktoum, has once again confirmed its leading position as the largest developer in the commercial real estate sector of Dubai: the amount of investment in the JBC 3 and JBC construction project 4 amounted to $ 136 million (490 million dirhams).
Commenting on the phenomenally fast sale of all the space in three buildings - JBC 1, JBC 2 and JBC 3, which took less than two months, Mr. Mohammed bin Mubarak, vice president of Al Fajer Investment & Development, said that "the investors of the Jumeirah Business Center project are well aware “Having become the owners of offices in this prestigious business center, they will not only save themselves from rent and get full ownership of the property, but will also return the invested funds in a short time.”
"Given that at present the cost of renting commercial space on the Sheikh Zayed highway is an average of 120 - 250 dirhams per square foot ($ 42- $ 69), a return on investment is guaranteed for four to five years," he said at a press conference .
Located in Dubai’s most prestigious Jumeirah Lake Towers district, with 69 residential buildings, JBC business centers will become the landmarks for the commercial life of new Dubai.
"The success of our project on the market is a direct result of the high demand for commercial real estate with freehold rights in Dubai. Today, local, regional and multinational companies are looking for opportunities for highly effective investment in real estate on the basis of freeholds in a city that is rapidly becoming the business capital of the region."
By concluding an unprecedented partnership contract with one of the leading banks in the region, the Commercial Bank of Abu Dhabi, Al Fajer Properties gave its customers a unique opportunity to finance and provide comprehensive support.
According to the leadership of the Commercial Bank of Abu Dhabi, representatives of the financial institution are well aware that "Jumeirah Business Center is a unique initiative for Dubai, the only one in its class, and cooperation with Al Fajer Properties proves the bank's confidence in the success of the project, which promises to become the flagship of the sector commercial real estate. "
At a press conference, it was announced that Al Ahmadiah Constructing, a company that has been operating in the construction market since 1970 and has a reputation as a reliable partner, has been transferred to the contract for the construction of new business center buildings worth $ 136 million.
"It is a great honor for us to become partners of Al Fajer Properties. The project is unique and very promising. We are confident that participation in it will be a worthy continuation of the history of our company, as we will be involved in the creation of one of the sights of new Dubai," the press service said. Conference Mr. Saeed Masoudi, Development Manager, Al Ahmadiah Constructing.
Commenting on Al Fajer Properties’s interest in the Jumeirah Lake Towers project, Mr. Mahdar Al Tamimi, Nakheel’s general manager for the Jumeirah Lake Towers project, said: “We appreciate the collaboration with Al Fajer Properties because we are confident in the success of the Jumeirah Business Center Towers project. Such excellent investment opportunities in commercial real estate in the district will only add to its attractiveness and significance. "
Over the 35 years of its existence, Al Fajer Group Corporation has become a leading developer, investor and real estate operator, having won the heights in both the engineering and consulting sectors of the economy. A number of successful Dubai real estate projects have been fostered under her wing. Today the company has grown into a large corporation, covering the tourism sector, the sector of international exhibitions and fairs, the production of goods, the pharmaceutical business, wholesale and retail trade.
Jumeirah Business Center 3 and Jumeirah Business Center 4 statistics
Partners: Al Fajer Properties, Abu Dhabi Commercial Bank, Nakheel and Al Ahmadiah Constructing Company
Jumeirah Business Center 3: 40 floors (39 floors of office space, G + 39)
Jumeirah Business Center 4: 40 floors (39 floors of office space, G + 39)
Located in Jumeirah Lake Towers, between the 5th and 6th interchanges on Sheikh Zayed Highway
Unique cutting-edge infrastructure
Futuristic design; grand five-story atrium lobby
Up to 75% financing through Abu Dhabi Commercial Bank
The total building area is 870,000 square meters. ft, of which 36,000 sq. ft. reserved for retail space
Convenient layout - offices from 800 to 11,000 square meters. feet
Cost per sq. ft - from $ 208 (750 dirhams)
Planned deadline is January 2008.
Consultations in Russian: +971 (50) 719 8835 (Saida)
e-mail: [email protected]
