Memon Investments launches AED 80 million Cambridge Business Centre in Dubai Silicon Oasis

The launch of the commercial tower, which is targeted for completion in 2009, was made at a press conference today held at The Fairmont Dubai. The tower, which has been designed by the award winning architectural and engineering firm, Eng. Adnan Saffarini, incorporates classic British architecture that evokes memories of traditional excellence fused with progressive engineering and architectural acumen.

Cambridge Business Centre follows the business and living community concept of DSO and will occupy a 160,000 square feet plot, which is strategically located within DSO. Designed to stand out with its classic British architecture, the 10-storey tower is a mix of luxury and functionality, and will house 108 small, medium and large offices, each distinguished by a unique blend of contemporary design, whilst also boasting of advanced facilities such as wi-fi technology, keyless entry, mood lighting, and hi-speed internet connection amongst others. Commercial tenants will have a choice of 11 retail shops on the ground floor, which comprise of renowned lifestyle brands, cafés and restaurants serving diverse cuisines, banking facilities and a travel agency. In addition, they can relax in a fully-serviced health club on the rooftop that includes a communal swimming pool, steam and sauna, rooftop juice bar and separate gyms for men and women.

Speaking at the launch, Ahmed Shaikhani, Managing Director, Memon Investments, said, "The Cambridge Business Centre is set to compete with existing corporate addresses with its combination of cutting-edge technologies and luxurious amenities. This prestigious project is built around the DSO's technology-centric and integrated community concept and offers a highly wired work environment without compromising an elegant lifestyle. Our aim is to bring total convenience to business people by providing a modern workplace where they can also fulfill their personal needs."

In addition to high-tech work spaces and lifestyle amenities, Cambridge Business Centre ensures maximum convenience and comfort with two-level basement parking, an elegant marble lobby, spacious corridors, high powered elevators, concierge and valet parking services, 24-hour manned security and state-of-the-art surveillance and intercom system. Occupants of the tower will also benefit from the integrated community planning of DSO with neighboring facilities such as luxurious villas and apartments, hotels, restaurants, mosques, shopping malls, healthcare and a community centre with a swimming pool and health club. Reputable academic institutions and the DSO Professional Development Academy (PDA), which will offer comprehensive training programs and internships, will also be in close proximity.

"Memon Investments has fully embraced the integrated living concept of Dubai Silicon Oasis with its first commercial tower that provides high-tech work spaces along with lifestyle amenities. Dubbed 'a city within a city', DSO is the first freezone in Dubai that conveniently combines industrial, commercial, residential, educational, healthcare and leisure amenities in one location," said Dr. Juma Al Matrooshi, Chief Corporate Services Officer, Dubai Silicon Oasis Authority. "With the opening of the Cambridge Centre in Dubai Silicon Oasis, we aim to attract companies from all over the world through providing them with a high-tech platform of information to invest in DSO."

DSO offers commercial benefits to host companies such as 100 per cent ownership and capital repatriation, zero personal and corporate tax, fast tracked business setup and visa processing for both businesses and families as a single-window authority. In addition, the freezone community has one of the region's most highly developed IT infrastructures and will offer subsidized server farms, EDA tools and on-site IT support among others. The 7.2 million square meter master-planned development is easily accessible from the Dubai International Airport, Jebel Ali Port and Dubai's central business district.

Commenting on the unique project, Eng. Ahmed Saffarini, Chairman of Eng. Adnan Saffarini Office, said:

"We are proud that Memon Investments, which has built a reputation for exceptional property projects, selected us to design its first commercial tower. The Cambridge Business Centre is a product of extensive planning from our team in order to ensure that the tower offers high-tech yet elegant work spaces whilst also featuring quintessential British architecture. This project adds to our high-profile developments and we are excited to be part of this new commercial property."

Memon Investments was recently launched by the Memon Group of Companies to leverage the Group's global experience in the real estate sector, which exceeds 28 years. In the UAE, the Group sold out all the units of its Champions Towers I and II, both located at Dubai Sports City. Memon Investments as a property development arm will handle the AED 1 billion earlier earmarked by the Group for a range of property projects to be implemented by 2008.