Reef Real Estate begins the year on a buoyant note

H.H. Sheikh Ahmed Mohamed Zayed bin Saqr Al Nahyan, Managing Director, Reef Real Estate said on the occasion: 'It is a very special day for us as we lay the foundation for Baynonah Business Towers in Jumeirah Village and Park Residence in Downtown Jebel Ali - two of Dubai's most exceptional commercial and residential developments.'

Located 15 minutes away from Dubai Airport and in close vicinity to Sheikh Zayed Road, Baynonah Business Towers is a top of the line office building offering the ultimate facilities. The building comprises of 21 typical office floors. Featuring a futuristic design, the offices vary from 700 sq. ft to2369 sq. ft., Baynonah is an ideal blend of business and pleasure. Four multi-cuisine restaurants, a broad selection of retail and leisure outlets, CCTV network/Access Control/BMS facilities and Hi-tech features ensure world-class office accommodation.

Park Residence is directly linked to Shk. Zayed Road - an equally unique development offering an enjoyable and pleasant living environment with well thought out amenities in Downtown Jebel Ali. Overlooking a sprawling, landscaped garden, the building features 13 typical floors, health club, 4 podiums, ground floor and basement. While one part of the building is intended for bachelors and offers only studios the other part caters to families and contains one and two bedroom apartments. Small courtyards and plazas surrounded by local shops and cafes punctuate the Medina area. Intimate community, terraced play areas with swimming pools and barbecue pits provide residents space to relax and unwind.

Despite the downturn, H.H. Sheikh Ahmed remains optimistic about the market. 'Our business remains steady. We still see a wonderful window of opportunity and we are ready to bet on the future of Dubai. As with any real estate investment, there's a herd mentality, with everybody coming to the market at the same time. As a result it has been a bit of a rough landing. It's best not to speculate because it doesn't really help anyone. The market will recover slowly. Ours is not a hit-or-miss proposition. Completion of all our projects remains a major priority. We remain committed to all our developments.'