Friday, 23 July 2021 05:56 GMT

Central Park Towers, DIFC signs more than 110,450 square feet with 21 new lease agreements in 2020


(MENAFN - Q communications) Dubai, June 2021: Central Park Towers, the largest single-owned office development within DIFC Free Zone has announced the signing of 21 new lease agreements in 2020. It has signed more than 110,450 square feet in accumulative lease transactions. The mixed development property continues to grow year after year as Dubai International Financial Centre’s (DIFC) most desirable location for businesses due to its attractive lease terms, unmatched amenities and services.

Central Park Towers is the most sought-after office destination within DIFC due to its dynamic and robust ecosystem and prime location. Despite the global economic headwinds, Central Park Towers witnessed positive leasing results last year and continued attracting new tenants looking for a combination of premium office space, a convenient location offering value for money and flexible and attractive lease terms within Dubai’s business community.

Commenting on the emerging trends, Arif Mubarak, Chief Executive Officer and Chairman, Arady Developments, said: “The sustained growth delivered last year is testament to the unique proposition of Central Park Towers. In 2020, we observed that more and more companies and government entities are selecting Central Park Towers as the result of the unparalleled value we provide to our discerning clients through our unique offering that combines location, efficiency, and world-class standards of design and amenities. With the growing demand for convenient and practical office spaces, Central Park Towers epitomizes convenience with its designed and furnished spaces that allow businesses to be operational immediately. Building on this momentum and by leveraging our highly effective and holistic model with our sustainable strategies, Central Park Towers is well-positioned for sustainable growth and success in 2021 and beyond.”

The rising demand for mixed-use design is increasingly being embraced in the city centres and suburbs alike. The largest single-owned office development has witnessed a positive trend and increasing demand for integrated developments that offer a diverse mix of amenities for their inhabitants, which blends residential, commercial, cultural, and institutional uses into one space. It enables tenants to seamlessly integrate their work, home, and social lives to promote balance during unpredictable times.

In 2020, Central Park Towers was home to 26 percent government entities and 74 percent private companies, demonstrating the development’s unmatched proposition due to its central location, unparalleled services, better parking ratio for employees and visitors with a myriad of retail offerings. Central Park Towers is a booming office destination chosen by many government organisations, financial institutions and international institutions. It houses two key government departments: the UAE Federal Tax Authority and the UAE Ministry of Economy.

Commenting on the successful leasing strategy for the development, Nemo Stojanovik, Head of Leasing at Central Park Towers, said: “We’ve had fantastic leasing success at Central Park Towers and delighted to add 21 new lease agreements. These partnerships are a testament to our commitment to provide an ideal combination of convenience and value, along with the highest health and safety standards. We are pleased to welcome such a prestigious roster of office and retail tenants to Central Park Towers and will continue working to create a development that is inclusive and open to all within DIFC.”

“We have seen a growing interest amongst tenants for a versatile space, which caters to needs while creating opportunities. At Central Park Towers, work, life, and leisure happen simultaneously, interwoven with the most vibrant financial neighbourhood in Dubai – DIFC,” he added.

The bespoke office complex is home to more than 90 companies and is one of the largest in DIFC with 855,682 sq. ft. of office space. With an impressive list of new tenants, Central Park Towers is one of the most vibrant communities in a contemporary urban environment with easy access to service retailers, dining options, cafes and premium lifestyle amenities, all of which provide the perfect work-life balance.

ENDS

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