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Fri 5 Sep 2014 10:12 AM

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Dubai's Sweid starts work on new DIC commercial building

Developer says construction is underway on The Edge in heart of Dubai Internet City

Dubai's Sweid starts work on new DIC commercial building

Dubai-based Sweid & Sweid Development has announced it has started construction on The Edge, a commercial building in the heart of Dubai Internet City.

The developer said in a statement that The Edge will offer boutique offices while also addressing demand for single-owner, large, and continuous commercial space in Dubai.

When built, The Edge will be offer over 100,000 square feet of space stretched out over seven storeys including retail areas on the ground floor.

The statement added that the building will also offer its tenants one of the highest parking-to-office ratios in the area.

Mohannad Sweid, chairman of Sweid & Sweid, 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 the Sheikh Zayed Road, and surrounding residential communities such as Dubai Marina, Tecom C and JLT.

"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. "

Majed Al Suwaidi, managing director, Dubai Internet City 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.

"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 47th, a previous development by Sweid & Sweid, was launched in Cairo, Egypt and hosts a range of tenants including SAP, GlaxoSmithKline, Bristol Meyer Squibb, SABIC, Johnson Controls, and Fujitsu. It was later sold to Dubai-based Abraaj Capital.

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