Dubai Properties unveils Dh4b development

Dubai: Dubai Properties, leading master developer, yesterday unveiled its latest development within Business Bay - the Dh4 billion Bay Square.

The five million square feet development, scheduled for completion by 2009, is positioned as a new age community project, targeting businessmen, residents and retailers seeking a stress-free lifestyle in a corporate environment.

The centrepiece of the 13-building development will be a boutique hotel - with a 'downtown' setting, and an exclusive residential tower.

The remaining 11 buildings will comprise of mixed-use projects, featuring retail and commercial space, and two storeys of rooftop and terrace apartments.

Mohammad Bin Braik, chief executive officer - Dubai Properties, said: "One of our core values is to provide integrated lifestyle communities for the discerning buyer. Bay Square will offer business professionals and visitors an unparalleled experience of modern Dubai. As a prestigious business address for companies, the project is a convincing investment option for both local and international investors. Almost 60 per cent of the project has been reserved for commercial investors." Dubai Properties will offer investors an exclusive opportunity to purchase five to 10 floors of approximately one million square feet of commercial space, ranging from 1,500 square feet to 17,000 square feet.

The height of the buildings and towers of Bay Square will range from 10 to 14 floors, and the residential units will feature studio, one-bedroom and loft-style apartments overlooking the Square and the rest of Business Bay.

Location

The Bay Square will be situated in the heart of Business Bay. It will be a pedestrian-only zone, hosting cafes, restaurants, a central plaza, retail outlets, and a state-of-the-art gym.

Dubai Properties' interactive stand at the City-scape event, which starts today, will showcase all its landmark developments including the Business Bay Vision Tower and Executive Towers, Culture Village, The Villa, the Jumeirah Beach Residence and the recently launched Dh745 million freehold Mediterranean style residential community Al Waha Villas in Dubailand.