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Thursday, November 12 - 2009

Omniyat Properties' first two commercial projects reach roof completion

  • United Arab Emirates: Monday, September 22 - 2008 at 15:59
  • PRESS RELEASE

Omniyat Properties, the UAE's multi-award winning, innovative property developer and a member of Omniyat Holdings, has reached completion of structure in its first two commercial projects - 'One Business Bay' and 'Bayswater'.

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  • Bayswater.
    Bayswater.
The projects are strategically located in Dubai's Business Bay, the new regional business hub which borders the Dubai International Financial Centre (DIFC) and the Dubai International Convention and Exhibition Centre (DICEC).

Omniyat's maiden project, 'One Business Bay', combines state-of-the-art infrastructure with the latest integrated technologies, in an Dhs520m, 30-storey futuristic tower.

Standing proud at the entrance of Dubai's Business Bay, the tower represents an architectural marvel, with the distinctive appearance of a skillfully cut diamond.

One Business Bay is further enhanced by its accessibility and immediate proximity to Dubai's growth corridor - Sheikh Zayed Road - and to the Business Bay Metro.

Within the tower, versatile and highly-advanced technology such as VoIP (Voice over Internet Protocol), wireless internet technology, fully integrated intelligent business and energy management systems are put to use towards one simple end - to create working spaces that are as advanced as the people in them.

"By aligning ourselves with best-of-breed architects, designers, contractors and consultants - from inception to completion - we ensure the development and prompt delivery of the region's most innovative and original properties,"

Mr. Mehdi Amjad, Executive Chairman of Omniyat, said.

Omniyat Properties' second project which is also nearing completion is the Dhs345m 'Bayswater' project. The 25-storey, 'scissor' shaped commercial tower is situated on a prime waterfront location. Combining sophisticated design with cutting-edge infrastructure, the project will offer freehold offices with dramatic views of the region's new business hub.

In addition to its enviable setting, the tower offers its residents many of modern life's every-day conveniences with cafes and shops lining the waterfront promenade.

The two commercial towers target medium-sized companies and will give investors high yields on their investment.

Since its inception in 2005, Omniyat Properties has successfully launched and sold six commercial towers and two residential projects with a value of over Dhs6bn. Buoyed by plans to launch further iconic projects in 2008, the company has projected a staggering Dhs35bn portfolio by end of the financial year, propelling Omniyat into one of the region's fastest growing private developers.
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Notes and media contacts

ABOUT OMNIYAT:

Omniyat Properties, a member of Omniyat Holdings, is an innovative real estate development company, headquartered in Dubai, United Arab Emirates.

With a staggering multi-billion dollar turnover, Omniyat Properties is positioned as the most forward thinking and futuristic developer in the UAE and has established itself -in such a small timeframe- as the developer of choice in the region.

With an impressive portfolio of eight commercial and residential developments launched and sold since 2006, and a handful of iconic projects planned for 2008, Omniyat has projected a staggering Dhs35bn ($9.5bn) turn over by end of 2008, making Omniyat one of the fastest growing developers in the region.

These include several large-scale, first-class, iconic projects designed by world-leading Architects and supported by international, best-in-class Consultants who help develop outstanding masterpieces and pioneering architecture; and integrate state of the art technology to create the most advanced and sought after commercial and residential lifestyle experience.

The Omniyat team is dedicated to building value for investors and clients through creative solutions and highly skilled professionals with international and local backgrounds and connections.

The impressive growth of the group's companies is based on sound business planning, a hands-on management style and high profitability results. As the initial companies continue to grow, Omniyat aims to launch and operate companies which benefit from the strategic portions of the real estate value chain and has solid plans for major geographical expansion regionally and worldwide.

Today, Omniyat Holdings is the proud custodian of Omniyat Properties, Omniyat Investment Management, the fund and asset management company licensed by DFSA and operating at DIFC, and a 40% shareholder in Investate, a specialized Investment banking activity based in Bahrain with a focus on investing in the region's booming real estate sector and beyond.

For further information, please contact:

Tina Flores
PR Account Executive
MCS Action FZ LLC
P.O. Box 20970, Dubai Media City, UAE
T +971 4 3902973
F +971 4 3908161

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