Dubai: Al Fajer Properties launched two new freehold commercial towers Jumeirah Business Center 3 and 4 with an investment of Dh490 million at the Jumeirah Lake Towers.
Mohammad Bin Mub-arak, vice-president of Al Fajer Investment and Development, said, "Investors in Jumeirah Business Center Towers are guaranteed to optimise their resources by turning their rent liabilities into assets.
"Considering that the annual office lease rates on Shaikh Zayed Road typically range from Dh120 to Dh220 per square foot, JBC investors are expected to enjoy return on investment (ROI) within four to five years."
"Offering spectacular views of Jumeirah Lakes and Jumeirah Islands, and situated within Dubai's emerging district consisting of over 250 residential buildings, Jumeirah Business Center is poised to become the commercial landmark of New Dubai.
"Jumeirah Business Center's success story is a direct result of high demand from local, regional and multinational companies seeking a high-end freehold commercial property based in Dubai, the undisputed regional business hub."
The real estate group's business ventures, developed over the past 35 years, include a leading construction company, property management services, engineering and consultancy, international fairs and exhibitions, manufacturing, travel and tourism, pharmaceuticals, general trading and investments and development.
Al Fajer Properties' tie-up with Abu Dhabi Commercial Bank is set to offer JBC investors a range of finance options.
Adeeb Al Jundi, vice-president of ADCB, said, "We are convinced that Jumeirah Business Center Towers is a pioneering development in a league of its own and our association with Al Fajer Properties reflects our confidence in this unique project which is destined to set a benchmark for quality in Dubai's commercial real estate sector."
Al Fajer Group awarded Al Ahmadiah Contracting the construction contract for the project.
