German Business Park aims to foster trade relations

Dubai: The ground-breaking ceremony of the 200 million euro (Dh1.1 billion) German Business Park in the Dubai Silicon Oasis was conducted on Sunday by Shaikha Lubna Al Qasimi, UAE Minister of Foreign Trade, and German Consul General to Dubai Johann-Adolf Cohausz.

The business park will serve as a hub for German companies in the UAE and Gulf region and is a joint venture between the Bin Jabr Group, the major shareholder of the project with 68 per cent, and Dubai Silicon Oasis Authority (DSOA) which holds 32 per cent.

The project will be developed by Bin Jabr Group and will be completed by 2010, Saeed Al Suwaidi, chairman of the group, told Gulf News.

It will include office space and apartments for sale, a five-star hotel with about 250 rooms and suites and the German Centre for Trade and Industry.

According to Dagmar Abdul Latif, general manager of the German Business Park, the centre will accommodate at least 350 German small and medium enterprises.

The park, spread over 880,000 square feet, will also house a shopping mall, spa and a German clinic.