Pegasus Realty acquires commercial property at Dubai Silicon Oasis in AED 30 million deal

Through this arrangement, Pegasus Realty will provide its technology focused international clients with need based commercial real estate solutions as well as attract multi-national companies by promoting the world class technology focused infrastructure being offered at Dubai Silicon Oasis.

Announcing this landmark development, Mr. Imtiaz Panjwani, Managing Director, Pegasus Realty LLC, said, 'Dubai Silicon Oasis is indeed a master planned development that offers sound investment potential. We estimate rental returns on investment to the tune of 12 to 14 percent at this project. Our investment in this development follows positive interest from our international clients as well as the strong demand for commercial space at this ultra modern technology park that we forcast.'

Commenting further, Mr. Imtiaz Panjwani said, 'With this strategic deal we have strengthened our portfolio of real estate offerings in high value commercial property in UAE. Dubai Silicon Oasis adds significant value and variety to our wide portfolio of real estate. Going ahead we intend to invest an additional AED 100 million in this mega project and attract global technology companies to set up base in Dubai parallel to the objectives of Dubai Silicon Oasis.'

Ably backed by the Dubai Government, DSO is set to be the regions technology hub. Located just 15 minutes away from the Dubai International Airport, Dubai Silicon Oasis is the most centrally located freezone township in Dubai. Besides providing high end IT infrastructure facilities, all investors will enjoy an array of benefits including tax free holidays, on-site IT support, IP protection and legal support, rapid visa processing, use of specialized on site labs, single window set-up besides along with full foreign ownership and repatriation of capital.

Emphasising the potential of Dubai's property market, Mr. Imtiaz Panjwani commented, 'The buoyancy in Dubai's commercial property market is expected to continue, energised by demand from regional as well as international investors. Sections of the residential property market has seen a mild correction in recent months, while the overall demand for commercial property remains upbeat.'

Dubai Silicon Oasis (DSO) is a science and technology based industrial park that will shape the semiconductor industry. Located in Nad Al Shiba, the southeastern part of Dubai City, the DSO site consists of 700 hectares dedicated to leading edge semiconductor and microelectronics manufacturing industries. With its focus on next-generation technology and wireless electronics innovation, DSO will leverage Dubai's plans of transforming itself into a Knowledge Economy. Investments in this high-tech technology park are estimated to exceed US$10 billion over a period of 20 years.

Pegasus Realty is one of the most prominent names in the real estate arena in this region. Head-quartered in Dubai and with offices in Bahrain, London, Nice and Monaco, Pegasus boasts of an impressive portfolio of over 200 prime properties holding keys to the best and most luxurious residences worldwide.

The corporate positioning of Pegasus - 'Converting Dreams to Reality'- envisages offering investors a one-stop-shop for straight-up deals. Its strategy is to offer investors a transparent one-to-one deal and obviate the need for potential property customers to go through multiple brokers and end up acquiring properties at unrealistic prices.