Bonyan International Investment Group, the new face and identity of Dar International for Development (DAR), the Dubai based real estate company, today announced its new corporate name and revealed plans of launching the tallest hotel in the world.
The move to have a new corporate identity is in line with the company’s vision to have a single identity to consolidate the group of companies that work under the same umbrella, which include the National Investments Company, Al Ayaan Group of Companies and the Feasibility Group.
Speaking at a press conference Mr. Tariq Ramadan, Group General Manager, Bonyan International Investment Group said, “This is a symbolic moment for the company as we reveal our new corporate identity and also announce plans to soon launch one of our key properties here in Dubai.”
The recent rebranding has been done to create a strong platform for local and regional expansion of the company, and the name ‘Bonyan’ is inspired by our company’s mission to build dream homes and landmark properties that are unique, luxurious and innovatively designed.
He added, “Our aspiration is to build Bonyan International Investment Group into a world class brand by delivering creative, inspiring and sustainable quality residential and commercial buildings that will set a benchmark for real estate sector throughout the region. Our drive and passion to develop luxury landmark properties that are exclusive and unique has led us to conceive the ‘Park Square Tower, which will soon be launched in partnership with KM Properties (member of Al Rostamani Enterprises) here in Dubai. It is the culmination of our vision to create architectural masterpieces that are unmatched in design, creativity, quality and functionality. “
Once completed, this 4.4 billion dirham property will be the tallest hotel tower in the world and second highest tower across the globe. It will feature 150 floors.
Centrally located in the prime business district and near Dubai’s upcoming Metro Station, the Park Square Tower is expected for completion in 2010. A one-stop destination for entertainment, fine-dining experience, shopping and leisure facilities, this tower and the Park Square area will offer tourists and business travelers alike the best in luxury and comfort.
Though currently planned to be built as a complex comprising of a series of hotel and furnished hotel apartments, which will be available for sale, the company has announced that it is open to discuss opportunities with investors and hotel operators looking at other feasible business options, which could include multi-franchise hotels in the same tower.
Mr. Tariq Ramadan added, “Park Square Tower is an ambitious project that comes at a time when the hotel industry is booming and the demand for luxury hotels in Dubai is at its peak. With Dubai gaining recognition as a leading tourist destination and 15 million tourists projected to visit the city by 2010, the time is ripe for us to tap the potential of this growing sector. “
Bonyan International Investment Group has already witnessed tremendous growth since the inception of the company in September 2002 and currently has offices in Dubai, Abu Dhabi, Oman, Qatar, Riyadh, Lebanon and Jordan.
With plans to develop some ambitious projects across the region involving investments of over Dhs 5 billion, the company has already created a niche for itself by gaining international and regional recognition for its existing properties and some of its future projects, five of which have been nominated for the ‘Guinness Book of World Records’.
These projects involve the construction of some of the most prestigious landmarks of the region, which include Furniture City, the International Real Estate Centre, the Lagoon Plaza, Rose Rotana suites and the Park Square Tower.
Both Furniture City and the International Real Estate Centre are multi-billion dollar projects reflecting the future design direction of modern architecture that aim to put Dubai in the spotlight by world spectators. Furniture City will feature the world’s largest sofa and the Financial Real Estate Centre aims to set a benchmark of creativity by building the world’s largest globe.
Also grabbing worldwide recognition is the Lagoon Plaza Tower, already under construction in the new district of Doha, which has been nominated by the Guinness Book of World Records for being the tallest zig-zag tower in the world.
Another striking new property being developed by the Bonyan Group is the Rose Rotana suites, the tallest furnished hotel suites tower in the world being built on Sheikh Zayed Road in Dubai. And finally, taking the limelight and breaking world records will also be the ‘Park Square tower that has been nominated by the ‘Guinness Book of World Records’ for being the tallest hotel tower in the world.
Other key UAE properties of Bonyan International Group currently under completion include the Dubai Gate 1 Tower and Dubai Gate 2 Tower, the Sharjah Gate and Lulu Tower and ABBCO Tower in Sharjah.
Bonyan International Group has also played a pioneering role in Qatar with the support of its local branch office of DAR International Investments and Development based in this market for initiating projects like the Lagoon Plaza and the Palm Tower Center. The Palm Tower Centre will be one of the prime business centers of Doha designed for commercial use to meet the requirements of local and international companies.
