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Fri 22 Jul 2016 12:14 AM

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Tanmiyat hands over office tower in Dubai's Business Bay

Developer also says it will deliver phase 2 of Living Legends project in Dubailand during Q4

Tanmiyat hands over office tower in Dubai's Business Bay

The handover at The Exchange Tower in Business Bay, Dubai has been completed with 188 offices handed over to landlords, developer Tanmiyat Global has announced.

The tower represents the latest handover by Tanmiyat Global, who also recently announced the phase 1 handover of the Living Legends Community in Dubailand featuring 184 villas and 144 apartments.

“This is an exciting time for Tanmiyat - 2016 is all about delivery and we are showing our commitment to our clients and partners with the completion of The Exchange Tower. There is no doubt that the past several years have been tough for the construction industry in the region but we believe in this market and feel the only way is up from this point”, said Mohammed bin Odah, CEO of Tanmiyat.

The Exchange Tower located in Business Bay opposite the JW Marriot Marquis, includes offices and retail spaces, with many offices already leased.

Tanmiyat said demand is partly due to the positive impact of Expo 2020 which has seen more companies relocating to Dubai and new start-ups entering the market.

“Recent market results have been a clear indication that Dubai remains an attractive destination for companies and investors due to robust economic activity prevailing in key sectors. We are carefully monitoring the market and looking at potentials as we aim to keep expanding our portfolio," added bin Odah.

Tanmiyat also said that phase 2 of Living Legends will start handover in Q4 while the full line-up of facilities including a school, mall and 5-star hotel will be completed in late 2017.

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