DUBAI, United Arab Emirates--(BUSINESS WIRE)--TECOM Business Parks, a member of TECOM Investments and comprising of industry specific business communities strategically located across different areas of Dubai, has announced new developments and the delivery of existing projects. These projects will launch in 2014 and 2015 respectively, with a total investment of AED 1bn, reaffirming TBP’s position as one of the region’s leading business communities and demonstrating its growth momentum over the past year.
2013 was a very successful year for TECOM Business Parks, who welcomed 549 new business partners and saw the number of knowledge workers located within its business parks grow by 23% to reach 58,000. TECOM Business Parks has been a major catalyst in Dubai’s growth as a knowledge-based economy for well over a decade, and its growth has created renewed demand within Dubai’s dynamic market for business communities, facilities and advanced infrastructure that support new entrants into the market as well as the expansion of key players. Dubai is cementing its position as the region’s leading strategic business hub, and receiving significant interest from global and regional players across different industries to set up their businesses.
TECOM Business Parks’ new projects include:
The Butterfly; two office buildings located in the heart of Dubai Media City and Dubai Internet City, which offers 255,000 sq. ft. of world-class facilities and infrastructure, tailored office space and a spacious outdoor plaza. This development is expected to be completed by the end of 2015.
Projects which are nearing completion include:
DuBiotech Headquarters; comprising commercial space and retail units and easily accessible from Al Khail Road, Sheikh Zayed and Mohammad bin Zayed Road. The development has been designed to incorporate sustainability elements and covers a total area of 500,000 sq. ft. and is expected to be completed by Q1 2015.
Publishing Pavilion; a nine story development located in International Media Production Zone (IMPZ), with a total area of 267,191 sq. ft. Handover is expected in Q4 2014.
Makateb; a multi-building development located in IMPZ, comprising two four story towers and two seven story towers, and a total area of 299,736 sq. ft. Currently under construction with handover expected in Q1 2015. Both Makateb and the Publishing Pavilion will cater to companies from across the media value chain.
*Source: ME NewsWire