Construction commences on new commercial building at Dubai Internet City
Posted on 2nd September 2014
According to news report on Gulf Construction, Sweid & Sweid Development, a Dubai-based boutique real estate firm, has commenced work on a new commercial building in the heart of Dubai Internet City (DIC) in Dubai, UAE.
Named The Edge, the building will cater to multinational and regional companies seeking modern and efficient office space, offering boutique offices while also addressing demand for single-owner, large and continuous commercial space in the city, said a statement.
Mohannad Sweid, chairman, said: "Following our success in delivering bespoke commercial space in Cairo, we believe a similar, institutional-grade product will be well absorbed by the Dubai market. Dubai Internet City remains to be one of the most sought after locations for major multinational corporations given its low density, proximity to Sheikh Zayed Road, and surrounding residential communities such as Dubai Marina, Tecom C and JLT (Jumeirah Lake Towers).
“Furthermore, we believe The Edge will distinguish itself as a single owned, highly efficient, modern product that falls in line with market demand. We have been careful not to rush to construction and take our time during the design process to ensure that will we be delivering exactly what the market needs, and setting a new benchmark for development in Dubai Internet City in terms of quality and efficiency."
The building will be over 100,000 square feet of gross floor area, stretched out over seven stories including retail areas on the ground floor, said the statement. It will boast over 80,000 square feet of underground parking space to offer its tenants one of the highest parking-to-office ratios in the area, it said.
Majed Al Suwaidi, managing director, DIC and Dubai Outsource Zone, said: “Today's announcement demonstrates our commitment to developing our Business Parks to suit the needs of our clients and offer strong commercial real estate solutions.
“Dubai Internet City is now home to over 1,400 companies from across the ICT value chain and over the past year we have witnessed the expansion of several business partners as well as welcomed a large number of new companies into our community. In line with this, The Edge will further support the needs of existing and future business partners and Dubai's ICT industry and vision to be a leading knowledge-based economy."
The development has been designed by Brewer Smith Brewer Gulf (BSBG), a leading architecture, engineering and interior design group, which has also been involved with other projects such as The Opus, which is currently under construction and the recently completed The Beach at Jumeirah Beach Walk, said the statement. The building is due to be completed and ready for occupation at the start of 2016, it added.Back to all Construction News
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