Al Fajer Properties (AFP) announced that it has spent Dh274 million ($74.6 million) of capital on phase 2 of its Dh1.8 billion JBC (Jumeirah Business Center) Project.

Phase 2 consists of four commercial buildings, three of which are known as the Ebony and Ivory towers. All four towers will be conforming to the highest green building codes complementing the green mandate set out by the Dubai Government.

Once handed over, the towers will add an additional 1.6 million sq ft of office space and 66,000 sq ft of retail space within the Jumeirah Lakes Towers (JLT) Community.

Phase 1 which consists of 5 towers is due to be handed over at the end of this year.

'Our continued investment within Dubai is a strong indication of our belief in the sustainability of the city and the country as a whole and that capital is starting to flow back into the economy once again,' said Sheikh Maktoum bin Hasher, president of AFP.

AFP is a leading developer in the Dubai World DMCC Jumeirah Lakes Towers (JLT) community and is the only developer to include a 5-floor atrium within the lobbies of its towers, he added.-TradeArabia News Service