Dubai
New office buildings in Dubai with Grade A credentials and other competitive edges is winning tenants over. “The Edge” in Dubai Internet City is now fully leased, and within 10 months of completion, with leases being acquired by the likes of Snapchat and Oracle.
The property comprises nearly 9,300 square metres of gross floor area over seven storeys and has more than 8,300 square metres of underground parking space. It claims to be “one of the highest parking-to-office ratios in the area”. The project was launched in 2014.
“Overall, Internet City is witnessing high occupancy levels as the tech industry continues to grow in prominence both here in the Middle East and from a global perspective,” said Maher Sweid, Managing Partner at Sweid & Sweid, the developer. (It had earlier “The 47th” in Cairo, an office block where tenants include SAP, GlaxoSmithKline and Fujitsu.)
Retail tenants at The Edge occupy over 3,000 square feet and include Costa, Just Salad and Classic Burger Joint. “We are always careful not to rush into construction, but take our time during the design process and ensure that what we are delivering, be it commercial or residential, is exactly what the market needs,” said Sweid.
