Salwan to manage Dh3bn Executive Tower project

Dubai Properties yesterday announced the appointment of Salwan – both subsidiaries of Dubai Properties Group – to provide property management services to the Dh3 billion Executive Towers development at Business Bay. Salwan Property Management will be responsible for managing the 8.7 million sq ft self-contained development at the 12 towers comprising 10 residential, a freehold boutique office tower known as Aspect Tower, and the 303-room Business Bay Hotel. Salwan is also mandated by Dubai Properties to extend leasehold options for the units at Executive Towers, a statement said. Salwan will levy Dh15.38 per sq ft as service charges for maintaining the common areas, as well as the indoor car park, landscaped areas, district cooling plant and infrastructure works within the development. An official spokesperson for Dubai Properties said: "Executive Towers is quickly moving towards its handover phase. The development comprises extensive common areas and community amenities, which require a competent entity to oversee the day-to-day operations. We believe Salwan has the expertise, capabilities and resources to provide premium services to the Executive Towers community and ensure the sustainable maintenance of the development." The residential component of Executive Towers will boast a range of units including studios, loft apartments, four-bedroom terrace apartments, garden apartments, and one-to-four bedroom apartments. The 58-storeyed Aspect Tower (with 185 suites) will accommodate about 2,151 individual apartments, 60 residential villas on the plaza level, eight boutique office villas, two spa and health clubs, a retail mall with 184 units, and a three-level podium that offers parking bays for 4,500 vehicles. Saeed Bushalat, CEO of Salwan, said: "As one of the leading property management companies, we are pleased to extend our offerings to Executive Towers. Our value-added services are designed to exceed client expectations while ensuring the long term plans and sustainability of the development. We look forward to a fruitful relationship with the property owners and retailers at the development. "Over the past year, Salwan has enhanced and increased the scope of our offering to best suit clients' expectations. Consequently, our services cater to investors as well as individuals and range from the management of residential towers to leasing and selling of individual properties. As part of our commitment to delivering services on par with global standards, we will continuously explore ways to raise our benchmarks while delivering optimum results." The Executive Towers is the first project for Dubai Properties in Business Bay and the second major freehold project to be handed over following the successful release of Jumeirah Beach Residence. Keep up with the latest business news from the region with the Emirates Business 24|7 daily newsletter. To subscribe to the newsletter, please click here .