Tecom Business Parks has announced new developments and the delivery of key projects, which will launch in 2014 and 2015 respectively, worth a total of AED1bn ($272 million).
The company’s new project, The Butterfly, is two office buildings located in the heart of Dubai Media City and Dubai Internet City, which offers 255,000ft2 of world-class facilities and infrastructure, tailored office space as well as a spacious outdoor plaza.
The development is expected to be completed by the end of 2015.
Meanwhile, the DuBiotech Headquarters Building, which comprises of commercial space and retail units and is easily accessible from Al Khail Road, Sheikh Zayed and Mohammad bin Zayed Road, is expected to be complete by Q1 2015.
The iconic development has been designed to incorporate sustainability elements and covers a total area of over 500,000ft2.
In International Media Production Zone (IMPZ)’s growing community, the Publishing Pavilion, a nine storey development with a total area of 267,191ft2 is close to completion with handover expected in Q4 2014.
In addition, Makateb, a multi-building development comprising two four storey towers, and two seven storey towers and a total area of 299,736ft2 is currently under construction with handover expected in Q1 2015.
Both developments will cater to companies fromacross the media value chain.
Malek Al Malek, CEO, TECOM Business Parks, said: “Dubai is cementing its position as the region’s leading strategic business hub, and receiving significant interest from global and regional players across different industries to set up their businesses.
“TECOM is committed to remaining at the forefront of Dubai’s knowledge economy, ensuring we address business requirements by enhancing our services, optimising our assets and developing new projects to meet market demand.
“As TECOM Business Parks launches new developments and moves closer to handing over existing ones, we continue to demonstrate our commitment to driving Dubai’s economy and industries, and our readiness to respond to growth in market demand.”