Omniyat celebrates completion of The Binary in Business Bay

DUBAI, 7th May, 2015 (WAM) -- Omniyat, Dubai’s leading privately-held real estate development group that creates liveable 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. Located at a vantage point opposite The Opus in Dubai’s Business Bay along the upcoming Dubai Creek development, The Binary boasts majestic views of Burj Khalifa, the creek and the Meydan Hotel. Reflecting Omniyat’s philosophy to create structures with a distinct visual identity, the exterior facade of the commercial tower is inspired by binary code. Mahdi Amjad, Executive Chairman and Chief Executive Officer of the Omniyat group, said, "We are committed to Dubai’s vision of leading by design. Our newest commercial project, The Binary, is a perfect example of marrying functionality with bespoke form at the heart of Dubai’s 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." The handover of The Binary pegs the value of Omniyat’s ready projects at over Dh3 billion, with an additional Dh9 billion worth of projects currently under development bringing the total to Dh 12 billion. These have been designed to articulate the developer’s focus on generating superior value proposition and yielding high returns. Commenting on the immediate market uptake to The Binary, Mark Phoenix, Managing Director of the Omniyat group, said, "The Binary is completely sold and the offices are ready to be leased. Owing to its location opposite Omniyat’s upcoming project – 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 percent over the market average for Business Bay." 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 basement levels with 1,218 parking bays. Taking advantage of its location, the double-tower structure maximises the waterside view and is serviced by seven elevators, a concierge, prayer rooms and washroom facilities in the main foyer. The retail areas 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’s new centre-point for meetings, shopping and entertainment. The entire development is managed by Omniyat’s Property Services Team, offering ultimate convenience to tenants and guaranteed return on investment to owners. - Emirates News Agency, WAM – http://www.wam.ae/en/news/general/1395280205868.html