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Bay Square Opportunity Sees Retail Leasing Soar for Dubai Properties Group

Flagship supermarket Choithrams will be the first to open at Bay Square Development
Dubai, UAE, August 14 2012: Dubai Properties Group , a member of Dubai Holding, has today confirmed a deal which will see supermarket giant Choithrams open their first flagship store in its prime mixed use development Bay Square, located in the heart of Dubai's growing Business Bay district.

The 12,448 sq. ft. supermarket will include a wide variety of merchandise and fresh products as well as a Food Corner. In addition, Choithrams will introduce for the first time ever, its coffee shop concept Vienna Café to Bay Square. The 1,306 sq.ft. café will service the surrounding residential and commercial towers in the community.

Speaking about the Bay Square retail deal, Mr Khalid Al Malik, Group CEO of DPG said: "With the release of Bay Square to market, we did anticipate strong demand from retailers for this well appointed development. However, demand has surpassed our expectations with the likes of Choitrams coming on board and we look forward to confirming even more retail deals in the near future".

Situated close to the well established South Ridge and Executive Towers developments; Bay Square is receiving strong interest from a number of retail investors. Overlooking the Downtown and Burj Khalifa area, the 5.1 million sq. ft (GFA) Bay Square development offers prime retail opportunities for lease along with commercial and residential sales. The mixed use development is accessible from all major highways with close proximity to the Business Bay metro station, Shiekh Zayed Road and Al Khail Road.

With over 290,441 sq ft of retail space covering the podium level, including open terraces and piazzas for cafes and restaurants, Bay Square Bay Square affords an excellent and accessible location with ample indoor parking to accommodate more than 4000 cars.

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About Business Bay:
Business Bay is fast becoming a central business district in Dubai attracting numerous commercial, residential and retail developments. It covers the area from Ras al Khor, to Sheikh Zayed Road, where it borders DIFC as well as many well established hotels and tower blocks.

It includes several phases of development and is already home to many iconic landmarks and buildings such as The Executive Towers and Vision Tower; additionally it borders prime landmarks such as Downtown Dubai, Dubai Mall and Burj Khalifa.

About Dubai Properties Group
Dubai Properties Group ( DPG ), a member of Dubai Holding, develops and manages properties, communities and destinations. Through its subsidiaries, DPG also offers end-to-end property related services.

The Dubai Properties Group focuses on the creation of a broad range of quality properties in which to live, work, play and shop in addition to the development and management of key destinations in Dubai including both Dubailand and 'The Walk' at JBR.

Dubai Properties Group aspires to become the best partner in providing a reliable service through the creation of quality, value for money lifestyles, and by creating a world class organization that offers a wealth of industry knowledge and expertise. DPG will constantly seek new and innovative ways to deliver comprehensive solutions to its stakeholders, investors and business partners.

For further information, please contact:
DPG PR Team
Weber Shandwick - Lynda McWalter & Samar Saliba
Tel: + 971-4- 3210 077
E-mail: dpg.pr@ws-mena.com

Lina Zain Al Din
Senior Manager, PR and Media Relations
Dubai Properties Group
Tel: + 971-4-4352042
Fax: + 971-4-3672972
E-mail: Lina.ZainAldin@dubaipropertiesgroup.ae

© Press Release 2012

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