Tameer Holding has announced a deal worth AED 211 million with Al Arrab General Contracting LLC for the construction of The “Regal Tower 1” in Business Bay in Dubai. The deal commissions Al Arrab General Contracting LLC to build a ground floor and 32 story commercial tower, with a total area of more than 784 thousand square feet.
This deal highlights the diversity of Tameer’s property development portfolio, which includes the all-commercial “Regal Tower 1” that offers office spaces designed for commercial usage. The tower has around 258 state-of-the-art offices available for customers through freehold ownership, one recreation floor and three basement levels, in addition to retail and commercial outlets, making it the best choice for business men and companies due to its convenient location at the heart of Dubai’s business district, as well as its unique design.
“Regal Tower 1 project has moved a step forward, which enhances Tameer’s commitment to translate what it first announced into a growing reality,” said Omar Ayesh, President of Tameer Holding. “Al Arrab is one of the leading constructing companies in the region, with a great record of achievements, and this is why we have chosen them for this project. We always ensure our projects are addressed with the highest quality and most professional standards”.
Ayesh added that the Dubai market is witnessing a shortage in the number of commercial units and the demand is increasing to millions of square foots of commercial offices with increasing numbers of global foreign companies relocating in Dubai or opening subsidiaries and branches. This is why “Regal Tower 1” is expected to reflect the vision of Tameer in meeting demand and also producing great projects.
On the other hand, Al Arrab General Contracting LLC representatives expressed their gratitude for being chosen for the construction of “Regal Tower 1”, hoping that this deal will mark the beginning of a long term relationship between the two organizations. They pointed out that this project will add value to their portfolio in the UAE – with the development creating a unique milestone within the Emirate of Dubai and in the Business Bay area in particular.
Regal Tower will also include a banquet hall for special events, meetings and business seminars, a fully equipped health club, mini-golf putting area, and a well-equipped business centre.
Source : Maktoob Business