High-end office building will address key gap in Dubai commercial real estate landscape

Dubai, UAE; 1st September 2014: SWEID & SWEID Development, the Dubai-based boutique real estate firm, announced today it has commenced construction on The Edge; a commercial building in the heart of Dubai Internet City ('DIC') that will cater to multinational and regional companies seeking modern and efficient office space.  The Edge will offer boutique offices while also addressing demand for single-owner, large, and continuous commercial space in Dubai. (www.theedgedubai.com)

Mohannad Sweid, Chairman of SWEID & SWEID, said:

"Following our success in delivering bespoke commercial space in Cairo, we believe a similar, institutional-grade product will be well absorbed by the Dubai market.  Dubai Internet City remains to be one of the most sought after locations for major multinational corporations given its low density, proximity to the Sheikh Zayed Road, and surrounding residential communities such as Dubai Marina, Tecom C and JLT. Furthermore, we believe The Edge will distinguish itself as a single owned, highly efficient, modern product that falls in line with market demand. We have been careful not to rush to construction and take our time during the design process to ensure that will we be delivering exactly what the market needs, and setting a new benchmark for development in Dubai Internet City in terms of quality and efficiency. "

When built, The Edge will be over 100,000 square feet of Gross Floor Area stretched out over seven stories including retail areas on the ground floor. In addition, the building will boast over 80,000 square feet of underground parking space to offer its tenants one of the highest parking-to-office ratios in the area.

Majed Al Suwaidi, Managing Director, Dubai Internet City and Dubai outsource Zone, said: 

Today's announcement demonstrates our commitment to developing our Business Parks to suit the needs of our clients and offer strong commercial real estate solutions. Dubai Internet City is now home to over 1,400 companies from across the ICT value chain and over the past year we have witnessed the expansion of several business partners as well as welcomed a large number of new companies into our community. In line with this, The Edge will further support the needs of existing and future business partners and Dubai's ICT industry and vision to be a leading knowledge-based economy."

Dana Williamson, Head of Agency MENA at JLL said:

"The demand for high-end commercial office space, especially those buildings which can offer the convenience of a single owner will continue to rise in coming years.  The Edge's proposed combination of investment-grade specifications and finishing, efficient use of floor space and a high parking-to-NLA ratio should be extremely compelling to companies looking to operate in the area."

The building has been designed by Brewer Smith Brewer Gulf (BSBG); a leading architecture, engineering and interior design group with over 35 years of experience in the UAE. Other projects by BSBG include prestigious landmarks such as "The Opus" (by Zaha Hadid, currently under construction), and the recently completed "The Beach" at Jumeirah Beach Walk.

In line with its development strategy, SWEID & SWEID has arranged for the full funding of The Edge prior to commencing construction. The building is due to be complete and ready for occupation at the start of 2016.

Founded in 2006, SWEID & SWEID targets niche development, investment and build-to-suit opportunities across the Middle East and Africa.  SWEID & SWEID's operations focus on three core competencies: sourcing projects and investments through market knowledge; sourcing funding from a dedicated investor base and ultimately executing on those investments based on the firm's deep technical expertise.  

The 47th, another well-known development by Sweid & Sweid, was launched as a bespoke office building targeting multinational companies in Cairo, Egypt.  The building hosts a range institutional tenants including SAP, GlaxoSmithKline, Bristol Meyer Squibb, SABIC, Johnson Controls, and Fujitsu, and was later sold to Dubai-based Abraaj Capital. 

Please visit www.theedgedubai.com for further information.

For any queries please contact:
Reem El Tal
Mobile: +971 50 708 0232
Email: reltal@brunswickgroup.com

© Press Release 2014