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Leading regional real estate services firm, Asteco, has been appointed the sole agent for the new API Trio Office Tower on Sheikh Zayed Road, Dubai.
The 305,875-square foot tower is an integral part of a high profile tri-tower development by Al Ali Property Investment (API), located in the busy Al Barsha area of the city and just minutes drive from Mall of the Emirates, Dubai Media and Internet City and opposite the Sharaf DG Metro Station.
A total of 170 office units, ranging in size from 1,140 to 3,142 square feet, are available from floors 7 to 41, offering commanding views out over Sheikh Zayed Road to the Jumeirah coastline and limited to just five units per floor.
“The accessibility of the API Trio Office Tower is a major influencer for prospective tenants, with commercial space at the New Dubai end of Sheikh Zayed Road seeing increasing demand. Direct connected access to the facilities at the new Novotel Al Barsha hotel in the adjacent tower is a further plus; adding a business and leisure component to the mix,” said Sean McCauley, Director – Agency, Asteco Property Management.
Added value facilities at the new four-star Novotel Al Barsha hotel tower include a dedicated meeting and conference floor, the JAVA Café and lounge, the region’s first Cravin’ Cajun Louisiana themed speciality restaurant, spa and gym.
An onsite leasing office has been established to assist with enquiries and all commercial tenants will enjoy a suite of discounts for the neighbouring Novotel Hotel.
“We are also offering tenants the option of leasing shell and core office space for corporate customisation, or we can help them fast track their move and set up operations with a minimum of fuss with fully furnished office options also available,” said McCauley.
The trio of towers is rounded out by the Adagio Dubai Al Barsha Serviced Apartments, providing a useful second client accommodation alternative for office tenants.
According to the latest Q3 2013 Dubai Focus report from Asteco, while revival in the office market is slower than the residential sector, rental rates across Dubai rose 43% over the previous year.
Office space on the popular Sheikh Zayed Road thoroughfare is also on the ascendant, showing a small but steady rise of 7% in the period from Q3 2012 to Q3 2013.
“With space in the nearby Jumeirah Lakes Towers and Tecom C districts rising by 110% and 82% respectively over the same period, office rental rates at the New Dubai end of the Sheikh Zayed Road are expected to follow suit and increase in 2014, so the API Trio Office Tower offers clear first mover advantages for new tenants,” added McCauley.