Tecom Group, a member of Dubai Holding, has announced its appointment to develop and operate the recently announced AED5 billion ($ 1.36 billion) Emirates Towers Business Park.
The company also said it has appointed Fareed Abdulrahman Al Janahi as CEO of the mega development.
Emirates Towers Business Park was launched earlier this month by Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai.
Tecom Group said in a statement that it will develop and manage the project that is located close to Emirates Towers, in collaboration with Dubai International Financial Centre (DIFC) which will provide a legislative environment with international standards of governance and transparency.
The new business hub will offer a wide range of office space for international companies looking to move or expand their business in the region.
The business park will also include three luxury five-star hotels, retail areas featuring a range of international brands and F&B options, a dedicated arena for events and ancillary facilities to support corporates.
Dr Amina Al Rustamani, CEO of Tecom Group, said: “The launch of the project comes at an opportunistic time when the real estate market in Dubai is witnessing a clear growth in demand for premium commercial and office space.
“The growing demand for distinguished business space is evidence that Dubai remains a preferred destination for key international and regional companies, given the Emirate’s strategic location and business-friendly environment.”
She added: “We are committed to providing the best quality service in supporting Dubai as a vibrant destination for business and investment.”