Tenants now occupy over 60% of space in up and coming commercial district
Abu Dhabi, 25th October, 2011- Manazel Real Estate, one of the UAE's most respected real estate companies, announced today that tenants of Prestige Towers, the first purpose-built commercial towers developed within the visionary 9712 BMC development in Mohammed Bin Zayed City began moving into their new offices. Such is the demand that the Abu Dhabi Food Control Authority (ADFCA) will shortly move its main office to Prestige Towers, Citibank has already begun the fit-out of their newest branch in Abu Dhabi and the tower, where their branch is located, will become the third branded Citibank building in the UAE. NMC Healthcare will also be setting up a state-of-the-art medical facility at Prestige Towers.
Prestige Towers add much needed premium office space to Mohammed Bin Zayed City. The two towers, each comprising ground and 19 floors, have a combined GFA of approximately 55,000 sqm of flexible, efficient and highly specified office space. They boast best-in-class facilities; IT services provision and 24 hour security. The towers' interiors are neutral, contemporary and elegant, while the façade has an imposing architectural character that reinforces their commercial identity. The two buildings are interconnected through dedicated basement parking for 1,000 vehicles and connected to the soon to open Capital Mall.
Eng. Mohamed Mubarak Al Mazrouei, Chief Executive Officer of Manazel Real Estate comments: 'Prestige Towers offer superior commercial space within an attainable cost base; this is an attractive proposition for companies seeking value without compromise on quality of their offices or their image. We are seeing strong interest, with the two towers over 60% leased or sold and we are in various stages of negotiations with a number of potential tenants.'
Prestige Towers and the adjacent retail scheme are the commercial heart of 9712 BMC development, a mixed-use development that includes, in addition to the commercial zone, residential towers and a hotel plot. 9712 BMC development is located within close proximity to the new Capital District outlined in the Abu Dhabi Plan 2030 and enjoys great connectivity to both Abu Dhabi and Dubai.
Dr. B.R Shetty, MD & CEO, NMC Healthcare commented, 'Prestige Towers are ideally located in an area, which will be an epicenter of Abu Dhabi's growth plan. We believe that by setting up a healthcare facility in these landmark towers will not only make business sense, but will also provide a great service to the local community in Mohammed Bin Zayed City.'
Once fully occupied, Prestige Towers will have a working population of approximately 2,000 people. They will bring the area to life and an entirely new community will gravitate towards Mohammed Bin Zayed City.
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About 9712 BMC
The 9712 BMC scheme in Mohammed Bin Zayed City comprises: Capital Mall as the focal point; Residential buildings comprising of apartments, swimming pools, health clubs, 24-hour security; a hotel and state-of-the-art commercial towers. The development's Prestige Towers are already completed and will accommodate 2,000 office workers at the time of Capital Mall's opening.
The proposed 230,000 sqm 9712 BMC scheme is situated at the centre of Mohammed Bin Zayed City, which covers five million square metres and has a current population of around 85,000 people. 9712 BMC, named after the national dialing code for Abu Dhabi, will be an important asset for Mohammed Bin Zayed City as it grows and evolves.
9712 BMC's close proximity to the future Capital District will strengthen the development's position and support Abu Dhabi's newly emerging CBD, which is expected to generate 150,000 job opportunities, while housing the nation's local and federal buildings, schools, universities, hospitals, residential and office space.
About Manazel
Headquartered in Abu Dhabi, Manazel Real Estate is becoming recognized as one of the nation's leading developers of large-scale residential, retail and commercial property projects. Manazel was founded in May 2006 as a private stock company in Abu Dhabi, UAE. Today, the company has more than 2,600 shareholders with a paid capital of AED 2.5 billion (US$670 million).
The company is also responsible for Al Reef Villas, a completely independent community near Abu Dhabi International Airport. The project comprises 1,818 apartments and 2,376 villas along with complementary retail elements. For more information, please visit www.manazel-re.com
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Teena Bounpraseuth,
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M&N Communications Limited
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E t.bounpraseuth@mncommunications.ae
© Press Release 2011
