Dubai Properties said it has appointed Salwan Property Management to provide comprehensive property management services to the Dh3 billion ($816 million) Executive Towers development at Business Bay.

Dubai Properties and Salwan Property Management are both subsidiaries of Dubai Properties Group (DPG).

Salwan will be responsible for managing the 8.7 million sq feet self-contained development at the 12 towers comprising ten residential, a freehold boutique office tower known as Aspect Tower, and the 303-room Business Bay Hotel.

In addition to offering advanced property management solutions, Salwan is also mandated by Dubai Properties to extend leasehold options for the units at Executive Towers.

Salwan will levy Dh15.38 per sq ft as service charges for maintaining the common areas, as well as the indoor car-park, landscaped areas, district cooling plant and infrastructure works within the development.

An official spokesperson for Dubai Properties, said: "In our committed endeavour to provide competitive services for offering a niche lifestyle experience, we have appointed Salwan Property Management to manage the Executive Towers that is quickly moving towards its handover phase."

"The distinct development in the heart of Dubai’s central business district and the upcoming Business Bay comprises extensive common areas and community amenities, which require a competent entity to oversee the day-to-day operations."

"We believe Salwan has the expertise, the capabilities and the resources to provide premium services to the Executive Towers community and ensure the sustainable maintenance of the development," he noted.

The residential component of Executive Towers will boast of a range of units including studios, loft apartments, four-bedroom terrace apartments, garden apartments, and one-to-four bedroom apartments.

The 58-storeyed Aspect Tower (with 185 suites) will accommodate around 2,151 individual apartments in all, 60 residential villas on the plaza level, eight boutique office villas, two spa and health clubs, a retail mall with 184 units, and a three-level podium that offers parking bays for 4,500 vehicles.

Saeed Bushalat, CEO of Salwan, said: "As one of the leading property management companies, we are pleased to extend our offerings to Executive Towers."

"Our value added services are designed to exceed client expectations while ensuring the long term plans and sustainability of the development. We look forward to a fruitful relationship with the property owners and retailers at the development."

The Executive Towers is the first project for Dubai Properties in Business Bay and the second major freehold project to be handed over following the successful release of Jumeirah Beach Residence (JBR).

With a growing portfolio of properties around Dubai, Salwan currently offers a wide selection of residential and commercial space for lease.

It currently owns and manages more than 18,000 residential and commercial units in different localities around Dubai including Jumeirah Beach Residence (JBR), Cordoba Villas, Al Khail Gate, The 558 Community, The Villa, and Office Park at Dubai Internet City.-TradeArabia News Service