| 08 Oct 2008 |
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Omniyat Properties' AED 772 million 'The Square' nears completion
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Dubai, UAE, 8th October 2008 - Omniyat PropertiesOmniyat Properties
, the UAE's award-winning, innovative property developer and member of Omniyat HoldingsOmniyat Holdings, has completed 75 per cent of its first family-oriented, fully integrated mixed-use development. Named 'The Square', the project consists of offices, retail facilities, serviced apartments and residential units. 'The Square' is strategically located in Al Mamzar (Deira) in the heart of Dubai, within a few minutes drive to the Dubai International Airport.
Casting of roof completion of the AED 772 million project is due in January 2009.
"'The Square' will be delivered concurrently with Omniyat's 3rd anniversary celebration, marking an important milestone for us," commented Mr. Mehdi Amjad, Executive Chairman of Omniyat PropertiesOmniyat Properties.
"The development is set to offer an optimum lifestyle experience for the people who enjoy the fellowship of community living, with its serene and calm settings, including a blue lagoon, white sandy beaches, sprawling park and landscaped paths. The prime motivation for this project is to offer a clean and comfortable life in a relaxed atmosphere for families," he added.
The choice of homes at 'The Square' has been designed to meet a variety of requirements and budgets and targets young families and the middle segment of the market. Along with reasonably priced payment schemes, this project offers excellent value for money.
Architecture for the low-rise buildings relives the neo-classical, Arabian style, in both the exteriors and interiors of the homes. The premium residential complex comprises seven low-rise residential buildings, with the retail arcade spread across the ground floor of the entire complex.
The commercial complex consists of two buildings; the first is an exclusive apartment building which offers serviced apartments, operated by Mövenpick Hotels & Resorts. The second building is a full-fledged office building with a medical centre for healthcare services.
Convenience is also a prime consideration in 'The Square', which has been designed as a self-contained neighbourhood. Lifestyle services include a health clinic, pharmacy, hair and beauty salons, and a nail bar. A day care centre is offered to working parents, and maid, butler and launderette services are available. The street facing the shopping arcade on the ground floor has a supermarket, pet shop, travel agency, fashion and jewellery stores, internet café as well as banking and utility payment facilities.
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Omniyat PropertiesOmniyat Properties
, a member of Omniyat HoldingsOmniyat Holdings, is an innovative real estate development company, headquartered in Dubai, United Arab Emirates.With a staggering multi-billion dollar turnover, Omniyat PropertiesOmniyat Properties is positioned as the most forward thinking and futuristic developer in the UAE and has established itself -in such a small timeframe- as the developer of choice in the region.
With an impressive portfolio of eight commercial and residential developments launched and sold since 2006, and a handful of iconic projects planned for 2008, Omniyat has projected a staggering AED 21Billion (US$ 6Billion) turn over by end of 2008, making Omniyat one of the fastest growing developers in the region.
These include several large-scale, first-class, iconic projects designed by world-leading Architects and supported by international, best-in-class Consultants who help develop outstanding masterpieces and pioneering architecture; and integrate state of the art technology to create the most advanced and sought after commercial and residential lifestyle experience.
The Omniyat team is dedicated to building value for investors and clients through creative solutions and highly skilled professionals with international and local backgrounds and connections.
The impressive growth of the group's companies is based on sound business planning, a hands-on management style and high profitability results. As the initial companies continue to grow, Omniyat aims to launch and operate companies which benefit from the strategic portions of the real estate value chain and has solid plans for major geographical expansion regionally and worldwide.
Today, Omniyat HoldingsOmniyat Holdings is the proud custodian of Omniyat PropertiesOmniyat Properties, Omniyat Investment Management, the fund and asset management company licensed by DFSA and operating at DIFC, and a 40% shareholder in InvestateInvestate, a specialized Investment banking activity based in Bahrain with a focus on investing in the region's booming real estate sector and beyond.
For more information on Omniyat and its projects, please visit our website: www.omniyat.com, or register your details and access our Media Library on: www.omniyat.com
For further information, please contact:
Tina Flores,
MCS Action,
Mobile: +971 55 983 1423,
Email: tina.f@actionprgroup.com
© Press Release 2008
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