Dubai-UAE: 5 May, 2015 – Omniyat, Dubai’s leading privately-held real estate development group that creates livable art, has received the Building Completion Certificate for The Binary by Omniyat, its third completed project in Business Bay. The project, which will add almost 500,000 square feet of commercial and retail space to Dubai, is now ready for handover.
Located at a vantage point opposite The Opus in Dubai’s Business Bay along the upcoming Dubai Creek development, the Binary boasts majestic views of Burj Khalifa, the creek and the Meydan Hotel. Reflecting Omniyat’s philosophy to create structures with a distinct visual identity, the exterior façade of the statuesque commercial tower is inspired by the binary code.
Mahdi Amjad, Executive Chairman and Chief Executive Officer of the Omniyat Group, said: “We are committed to Dubai’s vision of leading by design. Our newest commercial project – The Binary – is a perfect example of marrying functionality with bespoke form at the heart of Dubai’s prime locale. The completion of The Binary brings to life the evolving vision of Omniyat and sets the stage for exciting developments in the pipeline. It also gives us the opportunity to share this vision with the city that has served as the inspiration for our ambitious plans.”
“The Binary is a testimony of our commitment to excellence in design, architecture and our conviction in creating buildings that serve every need of the end user. The market has responded very favourably to all our projects in the pipeline and the completion of The Binary will add momentum to our developments.”
The handover of The Binary pegs the value of Omniyat’s ready projects at over AED3 billion, with an additional AED9 billion worth of projects currently under development bringing the total to AED12 billion. These have been designed to articulate the developer’s focus on generating superior value proposition and yielding high returns.
Commenting on the immediate market uptake to The Binary, Mark Phoenix, Managing Director of the Omniyat Group, said: “The Binary is completely sold and the offices are ready to be leased. Its location opposite Omniyat’s upcoming project – The Opus by Zaha Hadid, which will feature a ME by Melia Hotel – will ensure that the property appreciates in value to command a premium of 20-25 per cent over the market average for Business Bay.”
The building interiors boast an awe-inspiring four-storey lobby that offers access to sleek and well-illuminated public areas embellished with high quality gilding, as well as private alcoves and state-of-the-art offices.
The 29-floor structure comprises two connected 21-storey and 24-storey towers sitting above five podium levels, offering unique amenities including 15 ground floor retail shops and three basement levels with 1,218 parking bays. Taking advantage of its superb location, the double-tower structure maximizes the waterside view and is conveniently serviced by seven elevators, a concierge, prayer rooms and washroom facilities in the main foyer.
The retail areas, upon completion of fit outs, will include cafes, restaurants, master chocolatier, florist, convenience store, pharmacy, and banks. Both tenants and visitors will be able to enjoy a complete business eco-system, crafted as the city’s new center point for meetings, shopping and entertainment.
The entire development is comprehensively managed by Omniyat’s Property Services Team, offering ultimate convenience to tenants and guaranteed return on investment to owners.
For details, leasing enquiries or interest in buying units listed with the Omniyat Group, visit www.omniyat.com or call 800 666 to secure an appointment with an advisor at the Omniyat Sales Suite.
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