Dubai’s real estate market is going through a challenging time but despite this, the market is expected to show resilience in 2019, according to industry forecasts.
Long-term residency laws introduced by the UAE government for investors will stimulate greater investment and attract growing interest from foreign companies looking to expand their operations in the Middle East.
As a contemporary urban business and lifestyle destination, Central Park Towers continue to attract new tenants looking for a combination of premium office space, a convenient location within Dubai’s business community and value for money.
Central Park Towers has the distinction of being the largest single-owned office development within the Dubai International Financial Centre (DIFC) free zone, providing efficiency and stability in a secure business environment.
Two key government departments that have recently leased office space at Central Park Towers; the UAE Federal Tax Authority, which occupy three floors and the UAE Ministry of Economy, which occupy five floors in the tower.
The Federal Tax Authority has established its new 63,000 sq ft headquarters in the office tower. The Authority is responsible for developing and managing UAE’s taxes in accordance with international best practices. The Ministry of Economy has relocated some of its departments to five upper floors in Central Park Towers. The Ministry is responsible for developing UAE’s economy through the creation of a pro-business environment that contributes to the balanced and sustainable development of the country.
With an impressive list of new tenants, Central Park Towers has become a vibrant community in a contemporary urban environment with easy access to service retailers, dining options, cafes and premium lifestyle amenities, all of which provide the perfect work-life balance.
In 2018, Central Park Towers also signed several new leases with international companies such as Schlumberger Global, Victorian Government Trade & Investment, Tokyo Marine Group and Korean International Trade Association. This is in addition to its existing corporate client portfolio, some of which include Marriott Hotels, Merck Serono, Bank of Singapore and ICICI Bank.
The desirable working environment created at Central Park Towers is further enhanced by a variety of convenient service retailers and popular dining options located within the premises. The Tower hosts brands such as Spinneys and Starbucks, as well as unique and new-to-Dubai brands including Barry’s Boot Camp, a popular American fitness concept; Fogo de Chao, a Brazilian steakhouse and bar; Café Frei, an international coffee house; Nina’s Boutique, a niche floral design company; Bombay Shirt Company, a bespoke shirt tailoring; and Camuti, an authentic Sicilian restaurant. It also houses home-grown UAE brands such as Poke & Co, Krave, This Is It, Mama’esh and EnVogue Salon.
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