$1 billion to be invested in Dubai real estate by Tebyan
An investment of $1-billion will be made over the next two years in various real estate development projects across Dubai by leading Dubai-based real estate company Tebyan.
Tebyan will initially launch projects worth over Dh3 billion over the coming two years including a 40-building community at IMPZ, two towers each at Dubai Marina, TECOM and Silicon Oasis, according to Khaleej Times.
The first towers to be launched will be the Dh160 million Tebyan Clarity Towers at Tecom Free Zone (encompassing Dubai Media City, Dubai Internet City and Knowledge Village), at the beginning of 2007. The towers will have 14 floors and three parking levels.
"Tebyan Clarity Tower is the culmination of intense strategic planning and a unique vision, combined to create a new standard for real estate development in Dubai and the project provides end-buyers an opportunity to own their own office space," said Shaikh Adel Al Hussaini, Tebyan's Chairman.
"Increase in rentals have increased demand for freehold commercial space particularly those oriented in a free zone area and this makes Tebyan Clarity Tower more lucrative for the end-buyers as it provides a chance to build assets and gain an excellent return on investment."
"Dubai is attracting many International companies who are seeking to establish their businesses, particularly in free zones. These free zones customize policies and infrastructure for their respective activity type, thereby facilitating the set-up and management process, which are critical success factors for any organization in expanding its global presence," added Shaikh Al Hussaini.