Business | Property
Boris Becker Business Tower unveiled
ACI real estate, a leading German project developer and affiliate of Alternative Capital Investments, has completed the final stage of its Dh2.2 billion Trilogy project with the launch of the Boris Becker Business Tower.
- By Suzanne Fenton, Staff Reporter
- Published: 23:29 February 24, 2008
- Former tennis great Boris Becker at the launch of a tower project in his name in Dubai on Sunday. The project will comprise three commercial towers, each 19 storeys high with a total saleable area of 250,000 square feet.
- Image Credit: Megan Hirons/Gulf News
Dubai: ACI real estate, a leading German project developer and affiliate of Alternative Capital Investments, has completed the final stage of its Dh2.2 billion Trilogy project with the launch of the Boris Becker Business Tower.
The Boris Becker tower will comprise three commercial towers, each 19 storeys high with a total saleable area of 250,000 square feet and a gross commercial space of 452,000 square feet. The total value of the tower is Dh500 million and all the units have been sold.
Speaking at the launch, tennis great Boris Becker said: "The city of Dubai has state-of-the-art infrastructure that matches the offerings of this tower and the regional investment climate is founded on valid economic fundamentals."
Robin Lohmann, managing director of ACI real estate, said that ACI is looking to expand its development portfolio with new projects due in Abu Dhabi and Ajman. "We have long term commitments to the UAE market which are demonstrated by our recent project launches and branch expansion to Abu Dhabi," said Lohmann.
The first five projects on Reem Island in Abu Dhabi are due for launch shortly and another ACI office will open in Doha in the second half of this year. "The developments offer investors the chance to be part of a blueprint of a city that the world has come to know and respect," he said.
Becker said: "I've been fortunate enough to have one career but in any athlete's life there comes an end. So now I can start with my second career and I can travel to the most exciting destinations like Dubai."
Nikki Lauda, Michael Schumacher and now Boris Becker have lent their names to ACI's real estate project, The Sports Legends Trilogy. It is due for completion in Business Bay in 2009 or 2010.
Share this article
Gulf News classifieds
Popular in Business
Business Editor's choice
-
Louvre, Golden Tulip hotel chains to expand in region
Dubai could host first establishment in 2010
-
Lending slows down in eurozone
Central Bank will this week announce revisions to liquidity-boosting measures
-
Global outcry over Dubai World restructuring is exaggerated
About 75 per cent of the $20b bond has already been subscribed
-
Banking
Mortgages: there's light at the end of the tunnel
UAE buyers are securing home loans again
