Lamar Development’s Sustainable Office Park to Transform Business Bay
Driven Properties, Dubai’s renowned real estate brokerage, announces its successful facilitation of the sale of the largest plot in Business Bay. The sale marks a significant milestone for the area, paving the way for a new, sustainable office park.
Addressing the Shortage of Grade A Office Spaces in Dubai
The premium office park by Lamar Development will serve as a welcome addition to the area, not only addressing the critical shortage of Grade A office spaces in Business Bay and the city at large but also enhancing the area’s appeal. Furthermore, with neighboring off-plan office developments seeing prices that exceed AED 7,000 per square foot, the sale further solidifies Driven Properties’ position as a trusted provider, even in the face of short supply. In addition, this investment on the canal strip elevates the Gross Development Value for Lamar’s existing and upcoming developments across the canal to over AED 12 billion.
Prime Location with 270-Degree Waterfront Views
An extension of Marasi Drive hosts the plot, spanning 333,000 square feet with a gross floor area (GFA) of 1,020,000 square feet, which makes it widely considered the most desirable location in Business Bay. Additionally, nestled within the Dubai Canal, its prime positioning and 270-degree waterfront views further contribute to its exceptional appeal.
Abdullah Alajaji on the Significance of the Deal
Abdullah Alajaji, Founder and CEO of Driven Properties commented: “This landmark deal in Business Bay exemplifies Driven Properties’ expertise in navigating complex, high-value transactions. We’re proud to have facilitated the sale of this plot, which will pave the way for a sustainable office park project that aligns with Dubai’s vision of a vibrant and sustainable city.”
A New Landmark Destination for Businesses and Professionals
The office park will feature a range of amenities, including a vibrant culture district, a performing arts theatre, and ultra-high-end office spaces. As a result, this project is poised to become a landmark destination in Business Bay, attracting businesses and professionals seeking a dynamic and modern work environment.
Moreover, as the biggest plot in the area, this latest transaction further adds to Driven Properties’ impressive track record of facilitating high-value real estate deals in Dubai, particularly in the ultra-luxury sector. Furthermore, Driven Properties continues to be at the forefront of catering to the growing demand for premium real estate, guided by its unwavering commitment to professionalism and expertise.
