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FINANCIAL NEWS
UAE Al Taif to invest USD108m on Fujairah business center
10 Dec 2014
(MENAFN) Al Taif Investment announced that it has started work on its Fujairah Business Centre project, which will be built at an estimated cost of USD108 million, Arabian Business reported.
The project, which is a joint venture between Dubai Investments and Fujairah Investment Establishment, the investment arm of Fujairah Government, includes building two towers spread across a total area of 80.058 square meters, which will include 19-level office tower and 19-level Courtyard by Marriott hotel with 228 rooms and apartment units.
The tower will also have a shopping mall and prime retail area spread across a built-up area of 15.616 square meters, with expectations that the project will take three years to be completed.
“The Fujairah Business Centre project by Al Taif Investment sets new benchmarks in urban development in Fujairah and acts as a catalyst for growth by creating robust opportunities for commerce. Through this iconic project, we are seeking to capitalize on the investment potential and exploit the diverse business opportunities that Fujairah offers,” Chairman of Al Taif Investment said
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