Omniyat Properties, the real estate development arm of Omniyat Holdings, has broken ground on its Dh1.2 billion ($326 million) landmark development in Business Bay, The Octavian.

Mehdi Amjad, executive chairman of Omniyat Properties, Peter Walichnowski, CEO of Omniyat Properties, and The Octavian project team attended the ground breaking ceremony on the site of The Octavian.

"The ground-breaking for our eighth project in Business Bay is a solid testament to our commitment of delivering on our promises," Amjad said.

"Recently, we announced that we will be delivering three projects per year, every year for three years. We are moving forward with our plans amidst the new world order," he stated.

"Omniyat’s work is on track and our strategic alliances with our partners will ensure smooth progress. I am certain that the economy of Dubai will overcome the present challenges and emerge stronger," he opined.

The Octavian is designed with the first-class commercial tenant in mind, such as industry-leading companies which require the quintessential, optimised workplace and was met with an overwhelming response culminating with 80 per cent of the project being sold during the launch phase.

Situated right in the heart of the city, in Phase 2 of Dubai’s Business Bay, the Grade A 21-storey modern office twin tower offers tenants an exclusive address, with a spectacular view of the Dubai Creek.

It is in close proximity to other iconic projects such as Burj Dubai, Downtown Burj Dubai, Dubai International Financial Centre and the Dubai Mall, he pointed out.

The Octavian will benefit from Omniyat Properties’ proprietary unique OYSTER (Offices Yielding Superior Targets through Efficiency and Relaxation) management concept, which delivers effective work spaces that nurture both the professional and personal facets of office workers.

Both towers of The Octavian have three podiums and four basement parking levels with 1,250 bays and high levels of security as part of the overarching Omniyat Facility/Property Management experience.

Omniyat Properties has proven to be a formidable force in the region’s real estate market and remains stable amidst the new market realities.-TradeArabia News Service