16 December 2014

Groundbreaking ceremony completed for mixed-use Fujairah Business Centre

Al Taif Investment, a joint venture between Dubai Investments and Fujairah Investment Establishment (FIE), the investment arm of the Fujairah Government, has completed a groundbreaking ceremony for its iconic Fujairah Business
Centre project. 

The project, to be completed in three years a cost of AED400 million, is to be a landmark in the city and is situated opposite Sheikh Zayed Grand Mosque. It consists of two towers spread across a total built-up area of 80,058 sq m. These include a 19-level office tower and 19-level  Courtyard by Marriott hotel with 228 rooms and apartment units.  The tower will encompass a shopping mall and prime retail area spread across a built-up area of 15,616 sq m, coupled with parking space to accommodate over 800 vehicles.

Khalid Bin Kalban, Managing Director and CEO of Dubai Investments and Chairman of Al Taif Investment, said: “The Fujairah Business Centre project by Al Taif Investment sets new benchmarks in urban development in Fujairah and acts as a catalyst for growth by creating robust opportunities for commerce and entrepreneurship. Through this iconic project, we are seeking to capitalise on the investment potential and exploit the diverse business opportunities that Fujairah offers.”

Khalid added: “The project has been planned in line with the market requirements in Fujairah and we expect a very high demand for our retail offerings. We are creating a vibrant destination that will not only address their lifestyle needs of modern retail, entertainment and hospitality, but also connect them to their Arab heritage through its attractions. We have a long relationship with Courtyard by Marriott, which has been operational in Dubai Investments Park since 2005, and we are happy to be associated with them in our Fujairah project.”