The construction of a new, sustainable, premium office park by Lamar Development is made possible by the sale of one of the largest plots in Business Bay, which was arranged by Driven Properties, a top real estate brokerage in Dubai.
The office park will alleviate the severe lack of Grade A office space in Business Bay and the city as a whole, making it a much-needed addition to the area.
The Gross Development Value of Lamar’s current and future projects across the canal is expected to reach over AED12 billion (USD 3.26 billion) with this investment in the canal strip.
The sale confirms Driven Properties’ standing as a reliable supplier, despite a shortage, given that nearby off-plan office developments are fetching prices per square foot that are higher than AED 7,000.
The plot, which spans 333,000 square feet and has a gross floor area (GFA) of 1.02 million square feet, is regarded as the most desirable location in Business Bay.
It is situated at the edge of Marasi Drive’s extension. Its prime location, 270-degree waterfront views, and nestled position within the Dubai Canal add to its exceptional appeal.
“This landmark deal in Business Bay exemplifies Driven Properties’ expertise in navigating complex, high-value transactions,” Abdullah Alajaji, Founder and CEO of Driven Properties, said, as reported by the Zawya.
“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,” the senior official added.
In addition to ultra-high-end office spaces, the office park will have a performing arts theatre, a bustling culture district, and other amenities. This project can potentially become a well-known destination in Business Bay, drawing professionals and companies looking for a cutting-edge workplace.
This most recent transaction, which involves the largest plot in the neighbourhood, strengthens Driven Properties’ stellar reputation for arranging profitable real estate transactions in Dubai, especially those involving ultra-luxury properties.
Driven Properties’ steadfast dedication to professionalism and knowledge has allowed it to stay at the forefront of meeting the rising demand for luxury real estate.