Tameer Holding invests AED 1.8 billion in 'Business Bay' to build 'Tameer Towers'

This step will facilitate the building of the new headquarters of Tameer called "Tameer Towers", and is part of the firm's expansion plan to widen its business activities and create an ideal environment for its team and clients.

This deal is considered one of the largest of its kind for the purchasing of land in the country in one of the most prestigious location, where the firm anticipates that the "Tameer Towers" will be a landmark development within the Business Bay. Expected to be completed by 2010, the project will be composed of 3 towers classified at a 7 star standard and finished according to international guidelines with a total value of 1 Billion 830 million Dhs turning this project to be the very unique in the Business Bay.

Tameer intends to dedicate two out of the three towers for residential purposes which will feature the highest amenities and services to reflect on Tameer's good reputation as known for being one of the biggest property developers in the private sector. The third tower will be mixed used where Tameer Head quarters will be based, in addition to posh hotel apartments, a 7 star hotel, a business center and commercial offices, high-tech communication services and security all developed at a competitive standard, compared to other towers being constructed in the region.

"Now is the time for Tameer to have its own state of the art building, considering the great number of projects that we are developing locally and internationally. This building is part and parcel to Tameer's new investment strategy of expansion that will continue for the coming years; and has been designed to meet the growing administrative, individual and technical needs of our firm,"

said Mr. Omar Ayesh, President of Tameer Holding.

Ayesh went on to explain that the "Tameer Towers" feature a combination of diverse characteristics that are normally hard to combine located in the heart of the business capital for the whole region. He added: "These towers have been created to provide an ideal working environment that will enhance our staff's work performance, individuals whom we consider as the back bone for Tameer's continued operation. The architectural plan for this development will exceed many other buildings in terms of beauty and design and in the accuracy of its development, which will be built to the highest standards."

As part of its new strategy, Tameer aims to create a highly qualified team of employees and developers, in order to deliver the best service to its clients. For that, they signed an agreement with "Ernst and Young", one of the world's leading professional consulting firms, to reengineer and align its corporate and business unit structures, during a time where the region is seeing a high level of growth and expansion.