Omniyat unveils third tower in Business Bay

Shveta Verma Buzzwords are getting into the local real estate jargon. The latest is Oyster Whichi stands for 'offices yielding superior targets through efficiency and relaxation'. The concept is to provide all facilities required by employees working in an office tower under one roof. According to Omniyat Properties, this is one buzzword that will catch on as they launch their third high-rise in business bay The Binary.

From Left; Tarek Kandil, Deputy Director of Sales, Mehdi Amjad, President and CEO, and Ehab Shouly, Senior Vice President and Marketing Director of Omniyat Properties at the launch To back it up, the tower will offer everything from a daycare centre for employee children, a nail bar and even a 'car spa'. Companies with offices in the high-rise could see at least a 15 per cent efficeincy and productivity gain from their staff arising from the features in the building, according to the developer. "We believe this concept will catch on and be adopted worldwide", says Ehab Shouly, Senior Vice-President and Marketing Director. The tower will be ready by the first quarter of 2009 with construction starting by the end of this year. Financing is availble from Amlak and Abu Dhabi Commercial Bank with 90 per cent finance for residents and 70 per cent for non-residents. Reatail is on the podium and first floor and will carry a tag for Dh2,250 per square foot and Dh2,100 respectively. Offices satrts from Dh1,300 per square foot. Up to 60 per cent has already been sold ahead of the actual launch. -- FRELANCE WRITER CONJOINED TOWERS The Binary features two conjoined towers of 21 and 25 levels and will entail an investments of Dh550 million. This brings the total investments by Omniyat Properties in Dubai to Dh1.4 billion since the launch of its first two projects in february. The tower includes more than 420,000 sqauare feet of office and retail space with two levels of parking for 1,200 cars. One parking sapce is reserved for every 1,000 square feet of office space sold.