Deyaar showcases Central Park at Cityscape Dubai 2009

1. AED 4 billion joint venture with Dubai Properties Group
2. 64 per cent of construction completed
3. Project includes 45-level commercial tower, 47-level residential tower and excusive retail space
4. Centrally located within DIFC, providing easy access to Burj Dubai district and DIFC metro station

Deyaar Development, a regional real estate company dedicated to innovation, customer care and long-term sustainable growth, today showcased Central Park, a premier integrated development located within Dubai International Financial Centre. Strategically located off Sheikh Zayed Road, with easy access to Burj Dubai district and DIFC metro station, this distinctive project includes a 45-storey commercial tower, a 47-storey residential tower and exclusive retail outlets.

Central Park is an AED 4 billion joint venture project between Deyaar Development PJSC and Dubai Properties Group, a member of Dubai Holding, with both partners holding 50 per cent ownership.  Construction on Central Park is currently under way, with 64 per cent of the project already completed. Planned as a high-value investment opportunity from two of the UAE’s most respected developers, Central Park is a state-of-the-art integrated development, comprising over 877,000 square feet of premium commercial space and nearly 558,000 square feet of exquisite residential space. In addition, the development consists of exclusive retail outlets offering a host of world renowned brands and boutiques under one roof.

Central Park was showcased at the company’s 270-square-metre pavilion, in partnership with Dubai Properties Group, at Cityscape Dubai 2009.

“Central Park promises to be among the most captivating new projects in the DIFC district, specially conceived and developed to serve the evolving needs of businesses and residents in the emirate,” said Markus Giebel, Chief Executive of Deyaar. “In line with Deyaar’s focus on building high-value projects that meet the current and future needs of Dubai, Central Park is an excellent opportunity for investors looking to invest in top quality real estate within one of the world’s most eminent and fastest growing financial centres. We are confident that Central Park will set new benchmarks for integrated developments within DIFC and prove to be extremely attractive to residents and international investor community alike.”

“As part of our continued commitment to address changing market needs through unique projects with high inherent value, we are delighted to be involved with Central Park as co-developer,” said Khalid Al Malik, Group CEO, Dubai Properties Group. “In Deyaar, we have found the right partner with an exemplary track record, strong fundamentals and a commitment to the highest standards of excellence.  We are pleased to showcase this project at a signal event such as Cityscape. Central Park is poised to further enhance the appeal of DIFC to individual investors and commercial institutions keen to establish a base in this emerging metropolis.”

The residential tower at Central Park consists of 426 units, including studio, one- and two-bedroom apartments, as well as a range of luxurious two- and three-bedroom duplexes and penthouses offering panoramic views of Burj Dubai, DIFC district and Sheikh Zayed Road. Amenities at the development include swimming pools, outdoor Jacuzzi, a water feature at podium deck, restaurants with exceptional views on the highest level of the commercial tower and advanced security systems, among others.

About Deyaar:

Deyaar Development PJSC is one of the fastest growing real estate companies in the region. Headquartered in Dubai, the company has grown significantly since its inception to evolve into a complete one-stop real estate solutions provider. Today, Deyaar stands at the forefront of the regional real estate sector, with interests in real estate development, property and facilities management, marketing and sales. Deyaar’s strategic solutions and deep market insights have helped create exceptional value for its investors. The company currently manages over 16,000 commercial and residential properties. Its operations are divided across four key business units, vis-à-vis, property development, lease management, asset management, and fund management divisions. Deyaar is well positioned to play a pivotal role in the development of the region’s property landscape. The company complies with the Escrow legislation and all relevant property laws in the UAE. Deyaar is registered with the Real Estate Regulatory Authority under reference number 15/07.

About Dubai Properties Group

Dubai Properties Group (DPG), a member of Dubai Holding, is a pioneering community developer that offers integrated and holistic services in real estate, retail, destination management and lifestyle management. Dubai Properties Group was established in 2008 to consolidate the operation growth of Dubai Properties different divisions into distinct business units. This evolution came from Dubai properties entity which aimed to contribute to the growth of Dubai by conceiving, developing and enhancing unique business projects.

With five synergetic lines of business, the Dubai Properties Group offers a sustained level of quality and excellence through its subsidiaries comprising Dubai Properties for customer service, sales and marketing interface; Salwan for property management services company; Injaz for the development of fully sustainable communities; Dubai Retail as the retail services company and Dubai Asset Management as the facilities management provider and community security services.

Founded on principles of transparency, accountability, and dedicated customer focus, Dubai Properties Group aspires to become the best partner in providing unique lifestyles, by creating a world class organization that offers a wealth of industry knowledge and expertise through its people. DPG will constantly seek new and innovative ways in delivering comprehensive end-to-end solutions for its stakeholders, investors and business partners. In pursuing its ambitious objectives, DPG consciously works towards raising the benchmark of environmental standards while striving to reduce its carbon footprint in the countries and communities where it seeks a presence.