One JLT Tower Announced in Dubai

  • New building in DMCC Free Zone will offer large contiguous floor plans catering to the needs of large regional and multinational companies
  • Global contracting company Brookfield Multiplex awarded a two-stage contract to design and oversee the construction
  • Work on this first step of DMCC’s expansion will begin in the coming days

    Dubai, UAE; 22 September 2013:The Dubai Multi Commodities Centre (‘DMCC’), the Government Authority dedicated to establishing Dubai as the global gateway for commodity trade, announced today its plans to build One JLT, a ‘glass-box’ style building in the heart of the DMCC Free Zone. One JLT will is a key part of the free zone’s previously announced strategy to cater to the demand of large regional and multinational companies seeking to house their entire operations in efficient, single-owner commercial space.

    Ahmed Bin Sulayem, Executive Chairman of DMCC, said:

    “The DMCC Free Zone, now the largest Free Zone in the UAE, continues to grow at an unrivalled pace of an average of 200 companies a month. We are currently developing the DMCC Business Park and world’s tallest commercial tower to meet this expected demand to serve large regional and multinational companies as they seek to expand and access new markets. One JLT is an integral part of this strategy and will allow us to bridge the gap in the marketplace.

    Dubai’s key position along the ‘New Silk Route’ combined with its world-class infrastructure, robust economy and sustained political stability has enabled the Emirate to become a global economic powerhouse that complements [or ranks alongside] trading hubs such as Singapore and Shanghai.”

    Matthew Lomax, Director of Property at DMCC said:

    “One JLT’s will allow us deliver office space that none of our peers currently offer. This new development will offer companies the opportunity to house their entire teams in space-efficient, high-end commercial space in a prime Dubai location managed by a single owner. ”

    One JLT will set the standard globally for efficiency. The building, which will include twelve levels and a ground floor, will offer a Net Leasable Area (NLA) of 23,400 square metres. The building will also offer one of the highest ratio of parking spaces to NLA in Dubai. In order to ensure energy efficiency, the building will be designed to Gold LEED standards.

    One JLT is part of DMCC’s strategy to provide companies with a commercial property offering unique to the Dubai marketplace – including benefits such as single ownership, contiguous commercial office space in the heart of Dubai, close to metro stations, world-class cargo facilities, ports and airports that connect to over 140 destinations.

    Nick Maclean, Managing Director, CBRE Middle East said:

    “The demand for commercial office accommodation continues to increase strongly. Dubai is also experiencing a new level of maturity in the market with occupiers demanding high quality international standard accommodation. DMCC in parallel has been a very important component in the growth of new and start-up business for Dubai’s economy and its proposed development of a new first-class office concept will be very welcome.”

    DMCC signed a two-stage contract with Brookfield Multiplex, a leading global contractor responsible for creating large-scale and complex landmark buildings, to design and construct the project. This unique two-stage contract approach will allow DMCC and Brookfield Multiplex to engage in a collaborative and transparent construction process. The Brookfield Multiplex team will be on site within the coming days to commence work.

    John Ferguson, Managing Director at Brookfield Multiplex Middle East & Asia said:

    “It’s exciting to be part of the team delivering One JLT, and we look forward to working with DMCC and to bringing our Design and Construction experience to this world-class project.”

    DMCC, the largest and fastest growing Free Zone in the UAE with over 7,300 companies, continues to expand its mixed-use Free Zone and freehold community. On average, DMCC welcomes over 200 companies per month to its Free Zone, more than 6 companies per day – over 95% of which are new to Dubai. There are currently 65 mixed-use commercial and residential towers and over 220 retail outlets in operation within Dubai’s most popular community Jumeirah Lakes Towers.

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    DMCC becomes UAE’s Largest Free Zone

    • Over 7,330 active registrations as of 21 September 2013
    • Remains the UAE’s fastest growing Free Zone with 200 new companies joining each month
    • 94% retention rate
    • Planned 107,000 sq/m business park will add 50% of commercial space
    • World’s tallest commercial tower to be constructed within the business park
    • Site for Uthman Ibn Affan (Dhun-Nurayn) Masjid has been confirmed as Cluster M2 in JLT

    Dubai, UAE; 22 September 2013: The Dubai Multi Commodities Centre (‘DMCC’) Free Zone is now the UAE’s largest Free Zone with over 7,330 active registrations. With an average of 200 companies choosing to join DMCC each month and a 94% retention rate, DMCC also remains the UAE’s fastest growing free zone.

    Ahmed Bin Sulayem, Executive Chairman, DMCC, said:

    “We are now the UAE’s largest and fastest growing free zone with over 7,330 active member companies – we remain committed to further growth in order to cement Dubai as the global hub for commodities trade and enterprise.

    We are well on our way to achieving our target of 10,000 companies by 2015, at which point we anticipate to be almost at capacity. Our expansion plans, including the DMCC business park and the world’s tallest commercial tower, will cater to large corporations looking to access new markets and will be the next phase in DMCC’s and Dubai’s growth.”

    As the demand for commercial space within the DMCC Free Zone continues to grow, with over 74% of the development already occupied, DMCC recently announced plans to build the world’s tallest commercial tower in order to cater to this continued demand. The construction of the tower and 107,000 square metre business park will add an additional 50% of commercial space or 743,224 square metres to the existing 2.9 million square metres of built up area.

    “We continue to innovate and complement key trading hubs across the globe to further support Dubai’s ambitious economic development programme. Currently, we are concentrating on serving markets along the new Silk Route and have become a strong facilitator of trade for producing countries in African and consuming nations in Asia, Asean, Europe, South America and the US”,  Bin Sulayem added.

    Since its establishment in 2002, DMCC has welcomed a range of companies from all sectors across the globe, including: Clarkson, Louis Dreyfus, Debeers Diamdel, Conoco Phillips, Rio Tinto Alcan, LVMH, Harley Davidson and Nutricia Danone.

    In terms of member demographics, a third of DMCC member companies are from South Asia, a third from the Middle East (including the UAE), and a third from Western Europe and North America respectively.

    Gautam Sashittal, Chief Operating Officer, DMCC, added:“This year, over 95% of the companies that have chosen to operate from the DMCC Free Zone are new to Dubai, which further demonstrates DMCC’s and Dubai’s continuous appeal as a business destination where SMEs and multi-nationals alike can utilise our full-service toolkit, trade with confidence and grow their business. Due to its unique offering, strategic location, modern infrastructure and customer focus, the DMCC Free Zone enjoys a 94% retention rate.”

    With 65 mixed-use commercial and residential towers and over 220 retail outlets in operation, there are currently over 75,000 people working and living within Jumeirah Lakes Towers. The transformation of one of its lakes into a 55,000 square metre community park and the road networks within the development are due to be completed by the end of this year.

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    DMCC Client Service Centre to be Closed during Eid ul Fitr

    Dubai, UAE; 7 August 2013: The Dubai Multi Commodities Centre Authority (‘DMCC’) announced today that the DMCC Client Service Centre will be closed for Eid ul Fitr from Wednesday 7 to Saturday 10 August, 2013. The centre will resume operations on Sunday 11 August.

    The DMCC Client Service Centre is located on the first floor of Almas Tower in the DMCC Free Zone, Jumeirah Lakes Towers (JLT) and serves over 7,000 members.

    DMCC Client Service Centre to be Closed during Eid ul Fitr

    Dubai, UAE; 6 August 2013: The Dubai Multi Commodities Centre Authority (‘DMCC’) announced today that the DMCC Client Service Centre will be closed for Eid ul Fitr from Wednesday 7 to Saturday 10 August, 2013. Should the first day of Eid ul Fitr fall on Friday 8 August, the DMCC Client Service Centre will also be closed on Sunday. The Centre will then resume operations on Monday 12 August, 2013.

    Please check for updates.

    The DMCC Client Service Centre is located on the first floor of Almas Tower in the DMCC Free Zone, Jumeirah Lakes Towers (JLT) and serves over 7,000 members.

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