DPG completes first buildings at Bay Square
Company says four other buildings in phase one also nearing completion
Dubai Properties Group has announced that it has completed two buildings at the first phase of construction at its Bay Square scheme in Business Bay, while a further four are in the final stages of completion.
The company, which is part of the Dubai Holding group owned by Dubai's ruler, HH Sheikh Mohammed Bin Rashid Al Maktoum, has argued that it has experienced strong demand for the units and decided to release more buildings in the area onto the market.
The company said that around 1m ft2 of commercial office space is on offer in Bay Square, with offices ranging in size from 1,500ft2 to entire building floors with balconies and terraces offering views over Business Bay and the Burj Khalifa area.
DPG Group CEO Khalid Al Malik said: “We see the commercial and residential real estate sector continuing to experience stable growth.
"With increased demand for mixed use developments such as Bay Square, coupled with the progress we have made in completing major infrastructure milestones in Business Bay; now is the right time to release the buildings for sale.”
Once complete, Bay Square will contain 12 towers with more than 5m ft2 of space, including 16 dining and restaurant outlets and 290,441ft2 of retail units at podium levels. It will also contain a number of new apartments.
DPG said lansdcaping and infrastructure works in the area around Bay Square are now 90% complete.