Tanmiyat to handover Exchange Tower in September
Tanmiyat Global has appointed Delta International Real Estate to manage the handover process and undertake full service management
Tanmiyat Global announced during Cityscape 2015 that its flagship Business Bay property, The Exchange Tower, is ready to welcome occupants and will be handed over on 30 September 2015.
Alongside this, Tanmiyat Global has appointed Delta International Real Estate to manage the handover process and undertake full service management of the development.
The flagship tower in the heart of Business Bay is almost fully sold and comprises 35 floors, 188 offices and retail space totalling 32,516 sqm.
Valued at $136m (AED500m), The Exchange Tower’s property value has increased by more than 25% since its conception in 2007.
“We are delighted to announce the handover of The Exchange Tower on September 30 2015, a significant milestone for Tanmiyat Global” commented Mohammed Bin Odah, CEO of Tanmiyat Global.
Following the 2008 financial crisis, the project suffered delays along with much of the Dubai real-estate industry. Today, under the management of Tanmiyat Global and Delta International Real Estate, the project is officially complete and ready for handover.
“Tanmiyat Global is committed to delivering quality projects in the best possible condition,” Bin Odah added. “We’ve obtained completion certificates from Dubai Municipality and connected the utilities in August 2015. The tower is now fully complete and ready to welcome the first occupants.”
Delta International Real Estate will form the tower association and handover the property on behalf of Tanmiyat Global.
The Exchange Tower is located in Business Bay, Dubai’s commercial business district. The tower consists 35 floors with 188 offices and retail space valued at AED 500,000,000.