The Tanmiyat Investment Group of Saudi Arabia recently revealed plans to fund a Dh1 billion commercial project at the Dubai Business Bay master development in the United Arab Emirates.
Tentatively named The Commercial Heights, the project will be comprised of three office buildings according to a press release from the company. The three buildings, The Forum, The Court, and The Exchange, are expected to offer prestigious office space to investors while easing the increasingly high demand for such space in the region.
The move by the Saudi group reflects the current trend of soaring real estate development in Dubai and in the surrounding region, as a growing number of firms announce new commercial ventures to address the shortage of office space in the emirate and invest in lucrative projects.
“Today, we are not only spearheading projects in Saudi Arabia, but also in a number of Arab and GCC countries and outside the region,” said Sulaiman Bin AbdulAziz Al Majid, chairman of Tanmiyat Group.
The Tanmiyat firm also has investments in The Commercial Heights, the Dubai Legends project at the Dubailand master city and the Marina Garden residential tower at Dubai Marina, amongst other real estate investments across the emirates.
