Jumeirah Lakes Towers announces free zone status to resident businesses
Jumeirah Lakes Towers (JLT), the rapidly emerging 200-hectare real estate development adjacent to Sheikh Zayed Road in the heart of ‘new’ Dubai, will offer free zone status to resident businesses, marking the creation of the first mixed-use free zone development in Dubai. Details of the regulations governing activities in JLT were unveiled today along with the new brand identity during a developers meet at the Jumeirah Emirates Towers.
JLT, which comprises 79 towers, is expected to cater to the broadest range of knowledge businesses in the Emirate, and will include offices, hotels, restaurants and leisure facilities in addition to residential towers. The project is expected to be completed by the end of 2008.
“Jumeirah Lakes Towers marks a significant departure from the single industry-specific free zone development that has been the norm in Dubai,” said Ahmed bin Sulayem, newly appointed General Manager of JLT. “The JLT development which will cater to both individuals and companies will encourage the creation of a new community related to the service sector,” he added.
A new identity has been launched for the project, symbolizing the lakes around which the development has been designed. Four winding, man-made lakes, stretching to approximately 255,000 square metres create a vibrant waterfront environment and provide stunning views from the towers, which will be clustered in groups of three.
“We have taken extensive care to ensure that the major infrastructure services to Jumeirah Lakes Towers are now substantially complete. The lateral service runs to each of the plots are in progress and in line with the priorities for each of the towers,” said Mr. bin Sulayem. “The major initiative to have a district cooling system is well ahead of other services and will meet the demands for air conditioning as well as reduce the overall electrical load and the impact on the environment. Each tower will also have access to complete DEWA services which they will be able to liaise on their own,” he added.
The JLT management has made every effort to minimise disruption to the users and tenants of the development during the construction period, by providing specific roads with partial paving and restricting access to non-construction traffic. Saba Tower, which is expected to be the first tower to open on the site, has had specific services and access brought into play. Landscaping around the towers will also be planned around the completion of individual towers.
The Dubai Multi Commodities Centre Authority (DMCCA) will be the licensing authority providing government services of company registration, licensing and immigration services to tenants/residents of JLT for the development. DMCCA has issued the rules and regulations governing licensing activities specific to the zone.