Handover of Dubai's $350m Onyx complete, says developer

Ishraqah says mixed-use project has witnessed a surged in demand across residential, office offerings
By Staff writer
Wed 11 Oct 2017 01:28 PM

Ishraqah, the company behind the $350 million The Onyx project fronting Sheikh Zayed Road in Dubai, has announced the completion of the project's handover.

The Onyx consists commercial and residential towers along with a four-star hotel, and three podium levels of commercial and food and beverage outlets.

Ishraqah said the mixed-use development has witnessed a surge in demand, with most residential units sold out and many of them already occupied. The offices and commercial space are also in high demand, the developer added.

Ishraqah was established as a strategic alliance between Al Zahran Group and Bin Mahfouz Group, two business groups in the GCC, in 2006 to pursue opportunities in the regional and international property markets.

Ishraqah and its sister companies currently manage a portfolio of real estate developments and investment of over AED5 billion in the US, UAE and Saudi Arabia, with offices in Dubai, Riyadh and Jeddah.

The development will soon host leading brands including Al Maya Supermarket, French Bakery, Costa Coffee, MMI, Papa John’s and 1004 Mart. Many other retail and F&B majors are also expected to open at The Onyx, Ishraqah said.

Sheikh Bader G Al Zahrani, chairman of Ishraqah said: “We are happy to announce the completion and handover of The Onyx... The Onyx was one of the most awaited developments and we are very proud of the way it has turned out.

“The UAE is constantly seeing a surge in demand for state-of-the-art commercial and residential projects and we provide just that with The Onyx.

“The Onyx also has a four-star hotel which will add a great charm to the already stylish development," he added.

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Last Updated: Wed 11 Oct 2017 02:16 PM GST

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