AAKAR Developers to build AED 200 million Canada Business Centre Tower in Business Bay

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AAKAR Developers Limited, a leading Canadian real estate and property developer, yesterday (October 29, 2006) announced its intention to build an AED 200 million Canada Business Centre Tower (CBC Tower) project at a Gala dinner attended by Canadian Ambassador to the UAE, Sara Hradecky; Canadian Consul General in Dubai, Graham Rush and Chairman of Canadian Business Council, Andrew Tice at the Shangri-La Hotel in Dubai. The CBC Tower is AAKAR’s first project in the region, but follows two years of research and over AED 500 million of investments into regional real estate markets.

Strategically located at the heart of the Dubai Business Bay district, the CBC Tower offers 19 floors of prime office space and 7,500 square feet retail space at the ground level. The tower, scheduled to complete in 2008, will enjoy an enviable location adjacent to the world’s tallest tower, Burj Dubai.

“The CBC Tower’s central location will ensure that resident businesses are ideally situated to take advantage of market opportunities. The Architectural philosophy of CBC Tower is people centric to present tangible business effectiveness enhancement opportunities for local organisations,” said Yadvinder Singh, CEO, AAKAR Developers.

The CBC tower’s innovative design allows panoramic lake views for 95 per cent of all offices. Amenities include a fully equipped gymnasium, steam room, rooftop pool, Jacuzzi, food courts, shopping boulevard, and six levels of car parking offering 378 parking bays. The tower also includes three state-of-the-art conference rooms and business facilities to support commercial tenants.

“The office layouts are configured to either allow several businesses to reside comfortably on a single floor, or for an open-plan agreement to accommodate a large department or company. The floor to ceiling windows provide incredible views, ensuring a combination of form and function,” Singh added.

Speaking at the occasion, Andrew Tice said, “Canada and the UAE have a close relationship across many spheres of economic and commercial activity, with over 100 Canadian enterprises with a firm presence in the UAE. It is heartening to see quality projects such as the CBC Tower originate from Canadian enterprises, and I wish AAKAR all the best in their new project.”

AAKAR is primed for further expansion in regional markets, and is expected to announce further projects in the near future. The company is participating at the Big 5 Show, and is present at the Canadian pavilion.