|Real Estate News|
The multi-award-winner Omniyat Properties - the real estate development arm of the UAE based Omniyat Holdings, has announced that main construction work on ‘The Binary’ - has entered its first phase.
The main construction work for its AED 550 million (US$ 150 million) freehold commercial project has been awarded to the prominent Dutco Balfour Beatty Group.
The enabling works, which started in March 2007, have been almost finished, whilst around 5 per cent of the overall development is completed.
Mehdi Amjad, President and CEO of Omniyat Properties, said that the project is a significant development and working together with the finest names in the construction industry is a guarantee to deliver the most futuristic and technologically advanced developments to its customers in the region.
‘Our philosophy relies on developing the most distinct and innovative properties in the region. We wanted to develop an office tower, which helped make its inhabitant more efficient, more creative and more productive,’ added Amjad.
The Binary will comprise of dual 21 and 25-storey freehold commercial towers fused at the center that will rise on plot number 50 in Dubai’s Business Bay District. The towers will offer office space ranging from 600 to 1,935 square feet (55 to 180 square meters). The state-of-the-art project will be elevated over a 4 level podium, which will contain commercial and retail shops.
‘The Binary is the first to be based on the company’s new OYSTER concept of office design. OYSTER is an acronym for Offices Yielding Superior Targets through Efficiency and Relaxation. Buildings based on this concept are self contained and produce excellent results, just like an oyster, which is self-contained within its shell and produces the pearl,’ explained Amjad.
The Tranquillity Zones includes the first Beach Deck in the Middle East, an artificial beach with real sand, real water and waves and real ‘beach sounds’ - courtesy of a simulator-. The beach deck, which is an open space on the podium roof, features sun-loungers where employees can go for creative inspiration or just to relax.
The Tranquillity Zone also includes a section with Nap-Shells, a closed bed where people can take a 15-minute power nap anytime during the day.
As all Omniyat Properties’ developments, The Binary will be also infused with intelligent technology; such as voice over internet telephony, radio frequency identification and biometric access.
Omniyat Properties has proven to be a formidable force in the region’s real estate market. Since its inception, the company has launched two residential and five commercial projects valued at over AED 4.9 billion (US$ 1.33 billion). Building on its momentum, this figure is set to rise to AED 10 billion (US$ 2.75 billion) by the end of 2007, making it one of the region’s fastest growing property developers.