Sweid & Sweid Development say that project will cater to demand for commercial space in Dubai
Sweid & Sweid Development, a Dubai based boutique real estate firm, has announced that construction has commenced on The Edge, a commercial building located in Dubai Internet City.
The project aims to cater to multinational and regional companies that are seeking office space. It will offer boutique offices that will also address the demand for single-owner, large and continuous commercial space in Dubai.
“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,” said Mohannad Sweid, chairman of Sweid & Sweid Development.
“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,” he added.
Once completed, The Edge will have more than 9,290 sqm of Gross Floor Area that is stretched out over seven stories, including retail areas on the ground floor. In addition, the building will have more than 7,432 sqm of underground parking space to offer tenants, which is one of the highest parking to office ratios in the area.
“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,” said Majed Al Suwaidi, managing director of Dubai Internet City and Dubai outsource Zone.
“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,” Al Suwaidi added.
The Edge will help meet the demand for high-end commercial office space, said Dana Williamson, head of Agency MENA at Jones Lang LaSalle. It has been designed by Brewer Smith Brewer Gulf (BSBG), a design group that has more than 35 years of experience in the UAE. Some of its other projects include The Opus, a Zaha Hadid project that is currently under construction, and the recently completed ‘The Beach’ at Jumeirah Beach Walk.
Sweid & Sweid added that it had arranged for the full funding of The Edge prior to beginning construction work. The building is due to be finished and ready for occupation by the start of 2016.