Property

DMCC welcomed AC Milan legend Clarence Seedorf to inaugurate the JLT Football Pitch, a purpose-built facility to encourage grassroots sports across the community. Located within Jumeirah Lakes Towers (JLT) Park in Dubai, the new facility will further expand the wide sporting and recreational offerings in the JLT district.

DMCC has announced that it will install solar car shades across the majority of the Jumeirah Lakes Towers (JLT) district’s cluster car parking areas.

DMCC welcomes Buffalo Wings & Rings to JLT in Cluster U, adding to the diverse scale of the F&B offering in the district.

As part of Dubai Can's sustainability initiative to reduce the usage of plastic bottles across the city, JLT is now home to two free water stations for residents and visitors, which can be found near the DMCC Metro Station and at the JLT Park.

DMCC is pleased to announce the opening of Filli Cafe in the iconic Almas Tower, expanding the F&B offering within JLT. The ceremony was attended by DMCC EC and CEO Ahmed Bin Sulayem, COO Feryal Ahmadi, Executive Director - Property, Paul Ashton, Director - Asset Management, James Garbutt, and Director - Sales & Leasing, Dhanu Abhyankar.

DMCC is glad to announce the signing of a lease agreement with Al Jazira Restaurants Development Company to open a stand-alone McDonald’s branch in JLT between Cluster L and M that will include Drive-Thru service and McCafe. We are confident that McDonald’s is a great addition to the JLT rich food and beverage portfolio of brands and the Drive-Thru service will add value to our community of 100,000 people who live, work, or visit our district.

DMCC finalised a 10-year lease renewal deal with One Business Centre for its flagship tower, One JLT. The renewal plays an integral part towards One Business Centre’s expansion plans across the UAE for 2022 and onwards.

DMCC – the world’s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise – is pleased to announce that the centrepiece of the Uptown Dubai District, Uptown Tower, has topped out at 329 metres last week.

DMCC – the world’s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise – has announced the completion of a range of enhancements made to Jumeirah Lakes Towers (JLT) throughout 2021 and further upgrades in 2022 as part of its continuous efforts to augment the district and improve the public areas across the community.

DMCC – the world’s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise – has announced that the construction of its iconic Uptown Tower is proceeding at pace, the 340m high tower currently standing at 260m with 68 floors completed.

DMCC congratulates SymriseAG for opening its new development, application, and sensory laboratories. We’re proud to welcome Symrise’s new facility to our growing business community in Jumeirah Lakes Towers – home to over 19,000 innovative businesses.

Senior management from DMCC and The Box Self Storage Services attended the ribbon cutting for The Box self-storage facility opening ceremony. We welcome The Box to our thriving community and are confident that the 140,000 sq.ft state of the art storage facility will enhance the overall district portfolio of property solutions adding value and convenience to our 18,000 member companies as well as the 100,000 people who live and work in JLT.

DMCC – the world’s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise – announced the signing of a sale and purchase agreement (SPA) with REIT Development to establish the largest precious metals refinery and storage facility across the GCC and the first to be completely enabled by blockchain in the GCC.

DMCC welcomes and congratulates Aviv Clinics – a pioneering medical science facility focused on enhancing and optimising brain and body performance – which opened in Jumeirah Lakes Towers (JLT).

Ahmed Bin Sulayem, Executive Chairman & Chief Executive Officer; Paul Ashton, Executive Director Property, and Dhanu Abhyankar Director Sales & Leasing, DMCC pictured above with Vincent Reynes, Managing Director and Luis Mantecon, Chief Financial Officer, Bulgari Middle East & Africa, during the signing of the lease renewal contract.
DMCC is pleased to continue its relationship with Bulgari at its flagship building Almas Tower, a city landmark famous for its high-end commercial offering and great location in the heart of the vibrant Jumeirah Lakes Towers (JLT) community.

DMCC has announced that the first phase of their Uptown Dubai district, Uptown Tower, has reached 153m, with over 32 floors completed.

DMCC – the world’s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise – and Bull&Roo Hospitality and Investments today announced their second partnership. A new retail and F&B concept is set to launch in Q2 2021 in the heart of the Jumeirah Lakes Towers (JLT) Central Park, perfectly positioned for the JLT community of over 100,000 people.

DMCC in partnership with Eye Media is offering quality services and innovative advertising solutions in JLT to help build your brand and easily reach over 100,000+ customers.

The land sale takes place between the world’s leading Free Zone and Musharaka REIT Fund.

The target property will be one of the largest self-storage facilities in the Middle East

The land purchase illustrates investor confidence in DMCC and its JLT business district

DMCC – the world’s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise – completed a real estate transaction comprised of a single plot of land sale with a self-storage facility on it to Musharaka REIT Fund, Musharaka Capital as fund Manager for Musharaka REIT is the representative of the Fund, for a total value of AED 46 million (USD 12.6 million). The price was decided after the fund obtained evaluations from two independent real estate accredited valuers.

The plot of land acquired by Musharaka spans across approximately 5,400 square metres (sqm) and is strategically located in the DMCC’s and Jumeirah Lakes Towers (JLT) business district overlooking Dubai’s Sheikh Zayed Road. Musharaka’s acquisition also includes a self-storage building with a total built area of 13,860 sqm. The facility will be leased by Musharaka to the ‘The Box Self Storage Services Co.’ with an initial rental yield of 8.7%.

Paul Ashton, Executive Director – Property, DMCC, said: “Musharaka’s acquisition confirms the resilience of real estate in Dubai, and market confidence in DMCC. DMCC has premium plots for sale across Jumeirah Lakes Towers which are attracting significant interest from diverse range of investors and developers, who are all searching for strong rental yields.”

Ibrahim Fahad Al-Assaf, Chief Executive Officer, Musharaka Capital, added: “This cross-border transaction has given us a plot of land with an accompanying long-term rental yield in one of the largest free zones in the world. DMCC also has the right compliance and regulatory framework in place, making it a safe and attractive investment and the right option for us.”

DMCC is developing Dubai by creating dynamic destinations for businesses and residents. It is the master developer of the vibrant JLT community and the much-anticipated Uptown Dubai District.

The Musharaka REIT fund, which is listed in the FTSE EPRA/Nareit Global Real Estate Index Series, is among a wide range of investment products offered by Musharaka Capital to support both individuals and corporations pursuing their financial goals. It is considered one of the best REIT funds in the Kingdom of Saudi Arabia and in the region, which is differentiated by the diversity, quality, and high rental returns of its assets.

DMCC finalizes a Lease Renewal deal with Shelf Drilling at its flagship tower One JLT! The leading jack-up contracting company has signed a five-year lease renewal agreement with DMCC for their headquarters office located in One JLT, a 14-storey high-end commercial tower situated at the heart of the Jumeirah Lakes Towers (JLT) community and offers conventional office features and amenities.

DMCC welcomes its new tenants! Paul Ashton, Executive Director Property and Dhanu Abhyankar, Director – Sales and Leasing, DMCC pictured with Sofiane Berrahmoune, Managing Director Dubai, Symrsie ME Flavor during their meeting at the DMCC Sales Center to sign a new office space lease agreement. With plans to strengthen their presence and underpin their growth goals in the region, Symrise ME has decided to relocate to a 10,000 sqft premium office space in Gold Tower, Jumeirah Lakes Towers. The new office is set to become a Sales and Marketing space, as well as a state-of-the-art application facility servicing the Symrise ME Flavor market and supporting Africa and Middle East.”