DUBAI 25 July 2017: Dubai Holding has announced that its arm, Tecom Group, will develop Dubai’s latest multi-billion dirham Emirates Towers Business Park.
It also announced the appointment of Fareed Al Janahi as Chief Executive Officer of the project.
Tecom Group will develop and manage the project that is located in close proximity to Emirates Towers, in collaboration with DIFC, which will provide a legislative environment with international standards of governance and transparency. The new business hub will offer a wide range of office space for international companies looking to move or expand their business in the region. The business park will also include three luxury five-star hotels, retail areas featuring a range of international brands and F&B options, a dedicated arena for events and ancillary facilities to support corporates.
Dr Amina Al Rustamani, Chief Executive Officer of Tecom Group, said: “The launch of the project comes at an opportunistic time when the real estate market in Dubai is witnessing a clear growth in demand for premium commercial and office space. Reports indicate that this growth will continue to increase in the following years. Premium commercial space accounts for 20% of the total business space currently available in Dubai, with an occupancy rate of 92%. The growing demand for distinguished business space is evidence that Dubai remains a preferred destination for key international and regional companies, given the Emirate’s strategic location and business-friendly environment.”
She continued: “We are committed to providing the best quality service in supporting Dubai as a vibrant destination for business and investment. We will be sure to harness our expertise and high-calibre of leaders to develop and manage Emirates Towers Business Park in accordance to the highest standards of quality, to become one of the leading business platforms and destinations locally and internationally, alike.”
Fareed Abdulrahman Al Janahi was appointed as Chief Executive Officer of Emirates Towers Business Park given his long-term experience and extensive knowledge in various corporate and commercial affairs of business parks and the real estate sector, as well as his active role in attracting and maintaining local and international companies across Tecom Group. Al Janahi has been a member of Tecom Group since 2000, where he serves as Chief Commercial Officer and Acting Chief Operating Officer.
Tecom Group is a strategic supporter of business and contributes to the realization of Dubai’s economic aspirations by developing and operating specialized business communities, as well as providing smart and innovative solutions that enhance the growth and success of its partners. TECOM Group’s business communities support Dubai’s position as a global business and trade hub, attracting a select group of qualified companies from around the world. It is a regional hub for more than 5,400 organisations, including international companies such as Google, CNN, Dell, Unilever, in addition to start-ups and small and medium-sized enterprises. Communities of Tecom Group are home to workforce estimated at 86,300 creatives and professionals.
The Group offers business communities with state-of-the-art facilities and advanced infrastructure designed to meet the needs of the vital sectors it operates across, including media, education, technology, science, design, manufacturing and wholesale trade. Tecom Group’s portfolio includes Dubai Internet City, Dubai Outsource City, Dubai Media City, Dubai Studio City, Dubai Production City, Dubai Knowledge Park, Dubai International Academic City, Dubai Science Park, Dubai Design District and Dubai Wholesale City, which encompasses Dubai Industrial Park and Dubai Food Park, as well as Emirates Towers Business Park.
By Sheena Amos