In a strategic initiative to strengthen its presence in the UAE’s buoyant real estate business, Asam Investments & Real Estate – a real estate investment and development focused company which is owned by Sheikh Ahmed Bin Saeed Al Maktoum, President of Dubai Civil Aviation and Chairman Emirates Group, today announced its plans to launch ‘Grosvenor Business Tower’ - the first branded office tower in the region to be developed at an estimated value of AED 450 million.
The prestigious tower is located at the Tecom free zone, off Sheikh Zayed road, between the 4th & 5th interchange and provides end-users an opportunity to own their own office space. Increase in rentals have increased demand for freehold commercial space particularly those oriented in a free zone area and this makes Grosvenor Business Tower more lucrative for the end user as it provides a chance to build assets and gain an excellent return on investment.
Highlighting its role in Dubai’s property sector, Sheikh Ahmed Bin Saeed Al Maktoum, President of Dubai Civil Aviation and Chairman Emirates Group said: “Dubai is attracting many International companies who are seeking to establish their businesses, particularly in Free Zones. These Free Zones customize policies and infrastructure for their respective activity type, thereby facilitating the set-up and management process, which are critical success factors for any organization in expanding its global presence. An endorsement of this trend is the high occupancy of all office spaces in existing Free Zones as well as in the city”.
“The business environment in Dubai is geared towards offering freedom and convenience to all companies looking for long term benefits from the wide spectrum of opportunities that the city has to present. The creation of premium branded office space is an endeavor to attract organizations of International repute and provide them an extensive range of advantages ranging from asset build-up to appreciation leading to growth”, he further added.
Elaborating on the marketing strategy used, Mr. Ali Al Soori, Managing Director of Asam said: “Our communication focuses on the ‘Advantages’ of buying an office unit in this project as it is bundled with a series of advantages, which ultimately culminates into the corporate advantage.
The tower’s exclusive agent Casabella Property Broker reaffirms this: “The series of advantages are a big success with both investors and end–users. They can identify with the benefits derived such as the freedom advantage and appreciation advantage and as a result the tower is already 70% sold.
The tower is strategically designed so as to accentuate the view of the luxury office units overlooking the landscape area of Tecom. The tower features a Roof Top Recreation Zone “The Unwind” comprising a health club fitted with the latest, state-of-the-art fitness equipment and a roof top pool with a magnificent view, sauna & steam rooms. In addition to the commercial spaces that will host some of the world leading corporations, the tower will also have a retail zone, “The Avenue” located on the ground floor.
Other amenities offered by the project comprise a café and juice bar on the pool deck, coffee shops and restaurants, 24 hour security surveillance, six high-speed elevators, multi-purpose halls for conferences, meetings and banquets, the 1st – 7th floors comprises a Podium Parking Zone called “The Drive-in” as well as a complete high speed wi-fi enable environment.
The tower is designed by Arch Group - architects of the marvel Grosvenor House in Dubai Marina, Emirates Group Headquarters and Le Meridien in Fujairah. The construction has already commenced on site and is expected to complete by April 2008.
Announcing the group’s future initiatives, Mr. Soori said: “Going forward, the Group will continue to be inspired by the spirit of Dubai – that of continually reinventing itself. Our firm commitment to Dubai prompted us to conceive this exclusive project – Grosvenor Business Tower, which will symbolize the dynamism and success of the Emirate. The project will be a defining marker for Dubai – both in terms of its strategic location and distinctive design.”
