News & Media

Meydan Business Park Phase 1 sold for AED2.6bn

17. October 2007

The first phase of the state-of-the-art Meydan Business Park (MBP) has been purchased by Amlak Finance for AED2.6billion.

Phase 1 of Meydan Business Park, in close proximity to Meydan Racecourse and Meydan City, will boast around 1.8million square feet of office space.

The purchase of Phase 1, brokered through Al Khayat Real Estate, is the beginning of what will be a fruitful and rewarding partnership between Meydan LLC and Amlak Finance, according to Meydan Chairman Mr Saeed H Al-Tayer.

He said: "We are delighted that Amlak, one of the leading finance companies in this part of the world, has pinpointed Meydan Business Park as a future commercial hub for the region.

"To have such a world-class company on board is further evidence that the Meydan project will not only be a sporting landmark, but also a commercial beacon for the UAE and beyond.

"Meydan Business Park promises to be like no other office community and will be the choice location for offices for the 21st century.

"Interest in the Park has been huge, which isn't surprising given its prime location and environment, and it will make working here a real pleasure."

Nasser Al-Shaikh, Chairman of Amlak Finance, added: "Amlak is pleased to take this step in developing a strong, long-term partnership with Meydan.

"This world-class landmark development concept is a true symbol to the innovative genius that His Highness Sheikh Mohammed bin Rashid Al Maktoum – Vice President and Prime Minister of the UAE and Ruler of Dubai - envisions for Dubai.

"Meydan Business Park is set to become a leading commercial address for Dubai due to its high quality standards, location and the community it falls within.

"This is an opportunity for Amlak Finance to further extend its core business by very selectively acquiring premium property assets and then retailing them along with innovative financing schemes at a later stage."

The office pods are set in a single pedestrian podium with architecture, design and colour creating an environment-friendly workspace.

MBP phase 1, served by Dubai-Al Ain main arterial highway, is only 1km from Meydan Racecourse, and is also located about 1.5km from the Ras Al Khor Wildlife Sanctuary.

Features of the Meydan Business Park include an impressive workspace lobby on an expansive 12-hectare landscaped podium, while the plaza cleverly conceals an approximate 3,400-carpark facility.

The MBP caters for the after-work crowd too, and at its core is the Lifestyle Centre, which provides a friendly and welcoming environment of vibrant cafes and retail stores in an urban park landscape.

Meydan Business Park, along with Meydan Racecourse and Meydan City, is being designed by leading Malaysian firm Teo A. Khing (TAK) Design Consultants.

ends

For further information please contact:
Meydan, Nad Al Sheba Racecourse
P O Box 9305, Dubai, United Arab Emirates
Tel: +971 4 327 0000, Fax: +971 4 327 0007
www.meydan.ae

or

Media Department, Dubai Racing Club
E-mail: media@dubairacingclub.com
Tel: +971 4 316 8653 Fax: +971 4 327 0048

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