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Downtown Jebel Ali Development Looking Good as Banks Sign On

Downtown Jebel Ali Development Looking Good as Banks Sign On

Commercial News » Commercial Real Estate Edition | By Alma Kadragic | July 29, 2009 1:00 PM ET



(DUBAI, U.A.E.) -- As Dubai expands to the south and Abu Dhabi to the north, one of the places in between is Jebel Ali, site of a huge free trade zone and the future largest airport in the world. Downtown Jebel Ali is becoming a significant commercial center, and yesterday Standard Chartered Bank, Citibank, and Blom Bank France signed on for office space, according to Limitless, the global developer.

The banks will join Ericsson, Kraft Foods, and L'Oreal in moving to Grade A offices or retail space in the first four towers of The Galleries, an eight-building mixed use complex. Businesses may lease from 1000-15,000 square feet per floor and multiple floors.

Saeed Ahmed Saeed, CEO of Limitless, said, "More and more local and international businesses are taking advantage of Downtown Jebel Ali's favourable location, convenient transport links, and community-style environment."

Vishal Tikku, Managing Director at Kraft Foods Middle East and Africa, agreed.  "Kraft moved to The Galleries six months ago, and Limitless has worked closely with us to ensure that we settled in quickly and overcame any challenges associated with a major office move," he said.

Three hundred apartments will soon be available for rent at The Galleries, so that people may live and work without having to commute regularly.  Saeed added, "Limitless projects aim to enhance and enrich lives.

The Galleries at Downtown Jebel Ali combines modern working with quality living, provides a healthy balance of indoor and outdoor life, and promotes the use of environmentally-friendly transport, all in a community-style setting."

Downtown Jebel Ali will stretch for 11 kilometres with 326 buildings including 237 residential towers. The project will consist of four zones, each with three districts: The Urban Centre, The Trellis, and The Medina, creating a blend of business, residential, shopping, dining, and entertainment facilities.




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