Vice President and Prime Minister of the UAE and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum said that Dubai’s major real estate projects aim to enhance the emirate’s development across sectors, and enhance its readiness for the future as part of the comprehensive growth strategy of the UAE under the leadership of UAE President His Highness Sheikh Khalifa bin Zayed Al Nahyan.
Sheikh Mohammed also said that these projects represent the next phase of strategic development of infrastructure that is required for the UAE to meet its growth aspirations. He said these projects are helping the country cement its position as a destination of choice for global investment.
His Highness said that the UAE is continuing its drive to enhance the environment for businesses and the private sector by providing innovative solutions for investors’ needs, and create a platform in the UAE for businesses to access major emerging markets that together have a population of over 2 billion people.
Sheikh Mohammed made these remarks at the launch of the AED5 billion Emirates Towers Business Park project. His Highness was accompanied by Deputy Ruler of Dubai and President of Dubai International Financial Centre H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum.
The launch was held in the presence of President of Dubai Civil Aviation Authority and CEO and Chairman of the Emirates Group H.H. Sheikh Ahmed bin Saeed Al Maktoum; H.H. Sheikh Mansour bin Mohammed bin Rashid Al Maktoum; and Director-General of the Department of Protocol and Hospitality in Dubai Khalifa Saeed Suleiman and a number of senior officials of Dubai Holding.
Chairman of Dubai Holding Abdulla Ahmed Al Habbai briefed His Highness about the development and various components of the project.
Masterplanned by Dubai Holding, the development is located between Sheikh Zayed Road and Happiness Street; in close proximity to Dubai International Financial Centre (DIFC), the leading financial hub for the Middle East, Africa and South Asia (MEASA) region. Upon completion, Emirates Towers Business Park will become an integrated business district in the heart of Dubai’s financial 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 mutual collaboration between Dubai Holding and DIFC in response to the increasing demand from international corporations looking to set base in Dubai’s thriving business environment. The emirate’s strategic location and advanced infrastructure presents the ideal choice for companies looking to strengthen their presence in the region and expand their reach.
Emirates Towers Business Park will meet the increasing demand for Grade A office space through hi- and low-rise office towers catering to a range of requirements. The development will include three five-star hotels. Jumeirah Group will manage one, while the other two will be managed by leading 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, green space and will include two covered pedestrian bridges connecting to the DIFC.
To ensure ease of access across the development, Emirates Towers Business Park will be supported through a three-level basement with one level dedicated to traffic management, while the other two will provide 13,000 new parking spaces.
Commenting on this launch, Abdulla Al Habbai, Chairman of Dubai Holding, said: "This new development reflects the wise and ambitious vision of our leadership and is in line with Dubai’s strategy of developing futuristic projects to meet the growing demand for integrated business districts and advanced legal infrastructure built on international standards of governance and transparency.
Emirates Towers Business Park demonstrates Dubai Holding’s commitment to the economic diversification of Dubai and strengthening its attractiveness as a preferred destination for regional and international corporates looking to leverage the wealth of opportunities for growth and expansion."
Essa Kazim, Governor of Dubai International Financial Centre, said: "DIFC continues to deliver on its ambitious plans to support the growth strategy of Dubai and the ongoing economic development of the UAE. Our collaboration with Dubai Holding is a perfect example of this strategy in action. By extending DIFC’s jurisdiction, the member companies of Emirates Towers Business Park will benefit from the Centre’s robust legal and regulatory framework as well as its world-class infrastructure that supports business growth throughout the MEASA region."
"It is our pleasure to work closely with Dubai Holding on this exciting development, which brings us a step closer towards our stated objective to triple the size of DIFC by 2024," he added.
The location will host the Museum of the Future, which offers laboratories for innovation in different sectors, including health, education, smart cities, energy, and transportation. Construction on this latest addition to Dubai’s skyline will commence by the end of 2017 with completion aimed within four years.