Omniyat, Dubai\u2019s leading privately-held real estate development group that creates livable art, has received the Building Completion Certificate for The Binary by Omniyat, its third completed project in Business Bay. The project, which will add almost 500,000 square feet of commercial and retail space to Dubai, is now ready for handover.<\/p>\n
Located at a vantage point opposite The Opus in Dubai\u2019s Business Bay along the upcoming Dubai Creek development, the Binary boasts majestic views of Burj Khalifah, the creek and the Meydan Hotel. Reflecting Omniyat\u2019s philosophy to create structures with a distinct visual identity, the exterior fa\u00e7ade of the statuesque commercial tower is inspired by the binary code.<\/p>\n
Mahdi Amjad, Executive Chairman and Chief Executive Officer of the Omniyat group, said: \u201cWe are committed to Dubai\u2019s vision of leading by design. Our newest commercial project \u2013 The Binary – is a perfect example of marrying functionality with bespoke form at the heart of Dubai\u2019s prime locale. The completion of The Binary brings to life the evolving vision of Omniyat and sets the stage for exciting developments in the pipeline. It also gives us the opportunity to share this vision with the city that has served as the inspiration for our ambitious plans.\u201d<\/p>\n
\u201cThe Binary is a testimony of our commitment to excellence in design, architecture and our conviction in creating buildings that serve every need of the end user. The market has responded very favourably to all our projects in the pipeline and the completion of The Binary will add momentum to our developments.\u201d<\/p>\n
The handover of The Binary pegs the value of Omniyat\u2019s ready projects at over AED3 billion, with an additional AED9 billion worth of projects currently under development bringing the total to AED 12 billion. These\u00a0 have been designed to articulate the developer\u2019s focus on generating superior value proposition and yielding high returns.<\/p>\n
Commenting on the immediate market uptake to The Binary, Mark Phoenix, Managing Director of the Omniyat group, said: \u201cThe Binary is completely sold and the offices are ready to be leased. \u00a0Owing to its location opposite Omniyat\u2019s upcoming project \u2013 The Opus by Zaha Hadid, which will feature a ME by Melia Hotel – will ensure that it appreciates in value to command a premium of 20-25 per cent over the market average for Business Bay.\u201d<\/p>\n
The building interiors boast an awe-inspiring four-storey lobby that offers access to sleek and well-illuminated public areas embellished with high quality gilding, as well as private alcoves and state-of-the-art offices.<\/p>\n
The 29-floor structure comprises two connected 21-storey and 24-storey towers sitting above five podium levels, offering unique amenities including 15 ground floor retail shops and three \u00a0basement levels with 1,218 parking bays. Taking advantage of its superb location, the double-tower structure maximizes the waterside view and is conveniently serviced by seven elevators, a concierge, prayer rooms and washroom facilities in the main foyer.<\/p>\n
The retail areas, upon completion of fit outs, will include cafes, restaurants, master chocolatier, florist, convenience store, pharmacy, and banks. Both tenants and visitors will be able to enjoy a complete business eco-system, crafted as the city\u2019s new center point for meetings, shopping and entertainment.<\/p>\n
The entire development is comprehensively managed by Omniyat\u2019s Property Services Team, offering ultimate convenience to tenants and guaranteed \u00a0return on investment to owners.<\/p>\n