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AL FAJER PROPERTIES LAUNCHES JUMEIRAH BUSINESS CENTER AT JUMEIRAH LAKE TOWERS WITH UNIQUE FINANCE OPTIONS FROM ABU DHABI COMMERCIAL BANK
Updated: 06-12-2005
Al Fajer Properties, a member of Al Fajer Enterprises established in Dubai in 1965 by its Group President His Highness Sheikh Hasher Bin Maktoum Al Maktoum, today launched Jumeirah Business Center at an investment of AED 470 million at Jumeirah Lake Towers.
 
The Group’s business ventures over the past 35 years include a leading construction company, property management services, engineering and consultancy, international fairs and exhibitions, manufacturing, travel & tourism, pharmaceuticals, general trading and investments and developments.
 
Unveiling Jumeirah Business Center at a press conference, senior officials of Al Fajer Properties said that the development has been launched in response to the unprecedented regional demand for a freehold business base in the burgeoning UAE economy. The development will have two parts - Jumeirah Business Center 1 & 2.
 
Hisham Al Gurg, CEO of the investments & development arm of the group said that Al Fajer Properties conducted exhaustive research to make sure the company could provide exactly what was required in the commercial freehold space.
 
“It became clear to us that demand from local, regional and international companies, wanting to establish a firm and lasting freehold commercial base in the regional business hub of Dubai had to be addressed. The first of the two towers we are unveiling today is already sold out. But it is not just about building office space people can buy, it is about providing a unique, state-of-the-art environment in a class of its own, and a unique finance option”
 
He also added: “Al Fajer Properties is delighted to announce its unique arrangement with Abu Dhabi Commercial Bank (ADCB) to offer our clients the broadest range of support and facilitate turning their liabilities into assets. ADCB has managed to create a trusted brand and has established a strong reputation in the market in record time. This tie-up eliminates the need for our valued clients at Jumeirah Business Center to search the market for quality financing options”
 
Hassan Jarrar, Senior Vice President said: “We are convinced that Jumeirah Business Center is a pioneering development in its own class and our association with Al Fajer Properties reflects our confidence in this unique project which will set a bench mark for quality in Dubai’s commercial real estate sector”
 
An ultra modern tower situated in a progressive community which is poised for booming growth, the development of Jumeirah Business Center 1 & 2 is driven by one compelling aspiration - to exceed expectations by offering high class professionals the opportunity to work from business premises that reflect their business objectives, ambitions and goals.
 
Its cutting edge architectural, design and technological concepts combined with the highest quality of materials, positioned within a picturesque lake view and professionally managed retail outlets guarantees its status as the most sought after property.
 
Talking about Jumeirah Lake Towers, Mahdhar Al Tamimi, General Manger of Nakheel’s Jumeirah Lake Towers said: “We have seen a high demand for ambitious residential and commercial developments in Dubai and inevitably our project has generated huge amounts of interest – hundred percent of the tower plots were sold out a year ago. Currently we are working on increasing parking spaces and bridges for easy access to Sheikh Zayed Road. ”
 
He further added: “I express my gratitude to our credible investors such as Al Fajer Properties, who have supported Jumeirah Lake Towers through an initial commitment to invest in a company’s capital through the acquisition of land”.


FACT FILE – JUMEIRAH BUSINESS CENTER
 
STRATEGIC ALLIANCE PARTNERS
  • Al Fajer properties, part of Al Fajer Enterprises
  • Abu Dhabi Commercial Bank (ADCB)
  • Nakheel
STATISTICS
  • Jumeirah Business Center 1 : G + 44 Floors (Office Development)
  • Jumeirah Business Center 2:        G + 39 Floors (Office Development)
  • Located at Jumeirah Lake Towers, between interchange 5 & 6 on Sheikh Zayed Road
  • Unique state-of –the facilities and amenities
  • Futuristic Design with Grand atrium lobby soaring 5 floors
  • Up to 75% finance options available through ADCB
  • Total surface area of 870,000 square feet with 36000 square feet retail component
  • Flexible office sizes ranging from 800 sq ft to 11000 sq ft
  • Prices starting from AED 750 / sq ft
  • Estimated completion date Jan 2008