TECOM Investments aims to develop 1 million sq ft of additional office space, spread out across its 11 business parks at an overall investment of Dh1.5 billion ($408.2 million).
The leading business park master developer, which a member of Dubai Holding, urged investors to explore the many exciting opportunities across the retail, residential and hospitality sectors within its portfolio.
Badr Al Gargawi, CEO (development and planning) at Tecom Investments, said new land plots will be released within and adjacent to Tecom’s business parks in 2015, offering opportunities for local, regional and global investors in prime locations.
According to Al Gargawi, the strategic focus for Tecom Investments’ business parks in 2015 is to both enhance the existing offering for its business partners, and to release more office space onto the market, particularly in well connected, growth locations.
Dubai Industrial City, which is a strategic location for Tecom due to its close proximity to Dubai World Central and the planned Expo 2020 site, will see additional infrastructure development and the diversification of its product offering within the site, he noted.
Tecom recently announced the launch of Villa Lantana, a freehold community of 440 contemporary family villas in Dubai’s new growth corridor of Al Barsha South.
“The construction of Villa Lantana, due for completion in the last quarter of 2015, is on track. Sales since the launch have been robust and exceeded our expectations,” stated Al Gargawi.
“They have largely been driven by local and regional investors, with a key driver being Tecom Investments’ reputation for robust planning, quality construction, timely project delivery, and most importantly, knowing the needs of the end user,” he added.