Fujairah-based Al Taif Investment has announced that 85 per cent of the work has been completed on its new mixed-use retail, hospitality and residential project, Al Taif Business Centre, and is due for handover by the end of this year.
Al Taif Investment is a joint venture between Dubai Investments, a leading diversified investments company and Fujairah Investment Establishment (FIE), the investment arm of the Fujairah government.
The Dh418 million ($114 million) project, with a total built-up area of 96,400 sq m, consists of two towers - a hotel plus residential tower with basement + ground floor + 19 floors and an office tower.
The hotel and the residential tower boasts a four-star hotel with 228 rooms including 14 junior suites, operated by Marriott International and 79 apartments featuring one-, two- and three-bedroom units, each semi-furnished with electrical appliances.
Dubai Investments Vice Chairman and CEO Khaled Bin Kalban said: "Al Taif Business Centre project is designed and developed to offer an ideal leisure and business destination in Fujairah and is carefully crafted to meet the evolving needs."
With the rapidly emerging emirate seeking to diversify its economy, there is increased focus on directing the resources towards enhancing urban development, tourism, retail, and leisure to attract local and international investors, observed Kalban.
Al Taif Mall, the G+2 level shopping mall within the development is equipped with basement and a retail area comprising 39 retail shops’ and a supermarket in core and shell set-up, 5 food outlets, 2 restaurants with outdoor terrace facility and an addition of 12 stores located in the basement to be used by the retail tenants as a convenient and secured storage area.
The retail spaces on offer are ideally placed within the towers, offering easy accessibility and convenient shopping. The retail parking space is designed to accommodate over 670 vehicles.
The 19 floor office tower is designed to provide office spaces in core and shell set-up, providing options for tailor-made offices to suit varied requirements.
"Developed in accordance with the emirate’s strategic vision, Al Taif Business Centre project is counted among the projects that will set a benchmark in the emirate’s planned urban development," remarked Kalban.
"It will act as a catalyst, enhancing the emirate’s attractiveness as a fully equipped leisure and business destination," he added.
According to him, Al Taif Business Centre’s strategic location was a distinct advantage that the project offered.
It is located approximately 5 minutes from Fujairah International Airport with proximity to the arterial road of Hamad Bin Abdulla, granting connectivity to other Emirates as well as other parts of Fujairah, he added.-TradeArabia News Service
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