November 20, 2008

AED 1 billion Burj Al Fara\'a tower project launched

Al Fara'a Properties, the flagship subsidiary of the Al Fara'a Construction, Industrial and Property Group, has announced the launch of the AED 1 billion Burj Al Faraa a state of the art commercial tower located in the commercial business district of Jumeirah Village, which is spread across 811 hectares.

The unveiling of the developer's latest project is aimed at addressing the strong demand for commercial space within Dubai, which is expected to witness the construction of over 86 million square feet of built space for office use by 2010.

Scheduled for completion by December 2011, Al Fara'a Properties has revealed plans to break ground on the 38 storey state-of-the-art commercial tower by December 2008. Set to offer a selection of office spaces, Burj Al Fara'a will provide a highly impressive business address to both local and multinational businesses seeking to establish a strong presence within the commercial business district at Jumeirah Village, which has recently witnessed the completion of 60% of its infrastructure works.

Ms Natasha Gangaramani Director of Al Fara'a Properties said that "The launch of 'Burj Al Fara'a', which is a testament to our growth and diversifying business, is aimed at leveraging the enormous demand for high-technology commercial spaces in Dubai. We will be working towards the timely delivery of this project, which will be constructed using the highest industry standards to supply the booming demand and fittingly represent the philosophy of our organization. Our main focus lies in achieving success in all our endeavors and we have developed a result-driven strategy based on the rapidly maturing real estate climate which clearly states the excessive need for commercial spaces to be built in Dubai within the coming years."