Limitless opens new tower for lease
Dubai, April 8, 2012
UAE-based real estate development firm Limitless has opened its fourth commercial building for lease at The Galleries, the company's first walkable, mixed-use project with commercial, retail and residential space in Downtown Jebel Ali.
The eight-building complex in the Galleries comprises four A-grade office towers (G+14), each with a podium garden, four further mixed-use towers and a 215,000 sq ft landscaped outdoor plaza.
According to Limitless, the demand for A-grade office space in Galleries has risen sharply in the first quarter.
The office occupancy at Limitless’ flagship project is approaching three-quarters across all four Galleries towers, said a senior official.
'The Galleries success story continues and we are delighted to welcome yet more corporate and retail tenants to our growing community,' remarked Bahaa Abouhatab, the head of Projects for Limitless in the UAE.
'All four of our commercial towers now open, and are increasingly being taken by global and local firms who want the A-grade office accommodation, convenient location, transport options and onsite facilities that The Galleries provides,' he stated.
'The first three months of this year has been a hive of activity for us, and we look forward to more milestones throughout 2012,' he added.
According to Abouhatab, half of the available office space in the newly-released building is already accounted for, with a new tenant – an Al Gaith-owned entity – currently fitting out seven entire floors (94,000 sq ft).
'In addition, pharmaceutical firm Hoffmann La Roche, headquartered in Switzerland, has secured a full floor (15,500 sq ft) of corporate space office at The Galleries. Roche chose The Galleries because of its strategic location, transport links and facilities,' he noted.
These and other deals in Q1 2012 mean that almost 550,000 sq ft the total available space at The Galleries is now taken.
'More than 27,000 sq ft of retail space is also accounted for: Al Aqawi Lounge Café is the latest tenant to sign up at the growing community development, with 1,200 sq ft of ground floor space. More corporate and retail leasing contracts are in the pipeline,' he added.-TradeArabia News Service