“Central Park Towers”—the largest single-owner office project in the Dubai International Financial Center (DIFC) Free Zone—announced – has achieved its highest leasing rate since its inception by signing 21 new lease agreements in 2020, representing more than 110,450 square feet in cumulative lease transactions.
The mixed-use real estate project continues to grow year after year as one of the most attractive locations for companies in the Dubai International Financial Center, thanks to its flexible lease terms and unparalleled amenities and services.
“Central Park Towers” is considered the most sought-after office destination in the Dubai International Financial Center due to its dynamic and robust ecosystem and prime location. Despite adverse global economic headwinds, Central Park Towers generated high rental income last year and continued to attract new tenants seeking premium office space in a convenient location that offers them added value for their money, with flexible and attractive lease terms in the heart of Dubai’s business community.
Aref Mubarak, CEO and Chairman of Aradi Real Estate Development, said: "With rising demand for comfortable and functional office spaces, Central Park Towers embody convenience through their furnished and move-in-ready spaces, which allow companies to start operations immediately. Building on this momentum and relying on our effective, comprehensive model and sustainable strategies, we believe that Central Park Towers is poised to achieve sustainable growth and success in 2021 and beyond.
Both city centers and suburbs are embracing the growing demand for mixed-use design, and the largest single-owner office project has seen a positive growth trajectory and increasing demand for integrated real estate units that offer a diverse mix of amenities and combine residential, commercial, cultural, and institutional uses within a single space. These units enable tenants to seamlessly integrate their work, living, and social lives in one place, promoting balance during uncertain times.
In 2020, government entities occupied 26 % of the leased space in Central Park Towers, while private companies occupied 74 % of the space, demonstrating the project’s attractive offering alongside its central location and comprehensive services and its superior parking availability for employees and visitors, as well as countless retail options.
Central Park Towers is a thriving office destination chosen by many government agencies, financial institutions, and international organizations, as it houses two major government departments: the Federal Tax Authority and the Ministry of Economy.
