Deyaar Commences Handover of 'The Burlington' Commercial Tower at Business Bay

Owners Take Possession of 476 Commercial Units at the 35-Storey Tower

Dubai-UAE: 28 September, 2013 - Deyaar Development PJSC, a customer-focused, trusted and valued developer with in-depth market intelligence and property management expertise, today announced the commencement of handover proceedings for 476 commercial units at 'The Burlington'

Located within the most prestigious and sought after business community in Dubai, Business Bay, The Burlington adds 1,365,305 million sq. ft. of commercial space with units ranging from 530 sq. ft. - 2,019 sq. ft. The project includes a 4,300 sq. ft. lobby, as well as a shopping arcade spread across 19,750 sq. ft, and a 3,230 sq. ft. gym and sporting facility. The units sold at this project exceeded AED 556 million and payments were received throughout the construction phase.

Saeed Al Qatami, Chief Executive Officer at Deyaar, said: "We are happy to announce the timely delivery of The Burlington units to our esteemed clientele. From the very beginning, our patrons have shown considerable faith in our capacity to meet deadlines and the quality we promised. The Burlington was envisioned to meet the rising demand for office space in Dubai. We will continue to remain committed to giving the unit owners the best real estate experience in the sector. As part of this priority, we have waived off the owner's association fees for the rest of this year.

"We would also like to thank the authorities for paving the way for the smooth turnaround of this project and look forward to building our development portfolio with their continued support."

Situated in a prime area adjacent to Sheikh Zayed Road and the Business Bay metro station, The Burlington is set to host some of the most esteemed names in the corporate world.

About Deyaar:
Deyaar Development PJSC is a leading real estate developer and real estate services company, headquartered in Dubai. Since its establishment in 2002, the company has registered exponential growth to become an industry leader in the region, with a share capital of AED5.78 billion.

Deyaar is well-positioned to play a pivotal role in the development of the region's property landscape. The company's in-depth market intelligence, world-class services and unrivalled property management support for communities across diverse portfolios have firmly consolidated its pioneering status in the region's real estate landscape.

Combining excellence with a vision to create natural living environments while placing customers at the core of its strategies, Deyaar additionally serves as a one-stop real estate solutions provider. Under this profile, its scope includes the delivery of end-to-end property development and property management services, overseeing 15,000 property units across the UAE. Deyaar also provides facility management services for its portfolio of more than 18,000 commercial and residential units. The company additionally spearheads an association management team to ensure the wellbeing of Deyaar's homeowners as a key priority.

Deyaar complies with the escrow legislation and relevant property laws in the UAE and is registered with the Real Estate Regulatory Authority under reference number 15/07.

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Mathilda Saad
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