Dubai Silicon Oasis (DSO) said it will introduce new promotional incentives including special discounts and fee waivers for its ready-to-move-in Cedre Villas project during its participation at Cityscape Global 2010 in Dubai.

A wholly-owned entity of Dubai Government, DSO operates as a free zone technology park for the semiconductor, microelectronic and other high technology-based companies looking to set up their regional base and R&D facilities in Middle East and Africa region.

The leasing and sale of all 368 units in the first phase of the Dh1.55 billion ($422 million) Cedre Villas project have been successfully completed, while Phase-II of the project was delivered in June 2010.

Almost 40 per cent of the units have already been leased and sold, said a top official.

Shahla Ahmed Abdul Razak, deputy chief executive officer at DSO Authority, said: 'Since the launch of the Cedre Villas project, we have received tremendous interest from industry professionals and investors alike. We are currently at the final stages of launching an integrated community centre at the luxurious villa project.'

'The centre will particularly serve people living at the Cedre Villas project as well as those who work and live in the vicinity of DSO through providing them with a variety of amenities and services,' Shahla remarked.

'This step comes in line with our commitment to achieving the project objectives as per the planned schedule,' she added.

“Our participation in Cityscape Dubai last year received great interest from investors who were impressed with the high quality-space and the overall value proposition that the units offer when benchmarked against similar developments in the market,” Shahla added.

One of the largest business-to-business real estate investment and development events, Cityscape Global will be held from October 4 to 7 at the Dubai International Convention and Exhibition Centre.

With 218 exhibitors from 115 countries, 6,840 investors and hundreds of real estate projects on showcase from across the Middle East, Asia, Africa and Europe, the four-day industry event attracted more than 80,000 visitors in 2009.

Cityscape, which will attract business leaders and industry professionals alike, will provide DSO with an opportunity to highlight the integrated gated community that additionally holds appeal to those working and living in the vicinity of DSO, he opined.

Currently, 126 plots are being developed at Dubai Silicon Oasis out of which the construction of 44 fitted-out buildings was completed during the first half of this year, said Shahla.

Additionally, the hi-tech park will house three mosques, the first of which was delivered in June 2010 with a 300-person capacity. The 1,000-capacity second mosque is scheduled to be delivered within 18 months while construction of the third mosque has already commenced, she added.-TradeArabia News Service