ACI launches Dh550 million Boris Becker Business Tower

Yesterday announced the opening of the Boris Becker Business Tower, the third tower in its Sports Legends Trilogy.

Valued at Dh550 million (including the land), the Boris Becker Business Tower comprises three commercial buildings of 19 floors each located in Business Bay. It will offer 452,000 square feet of commercial space. The tower was sold within weeks of its pre-launch announcement and marks the end of the three-monument trilogy development which includes Niki Lauda Twin Towers and the Michael Schumacher Business Avenue.

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The total value of the developments is Dh2.2 billion. The Boris Becker tower will be ready in October 2009, marking the completion of the Sports Legends Trilogy, managing director of ACI Real Estate, Robin Lohmann, said. He also said that within the Becker Tower the Becker logo and branding would be used, primarily in "common areas". Boris Becker will also be a Member of the Board of ACI and will be personally involved in the progress of the Becker tower.

In addition, Lohmann confirmed that his company had considered launching a tennis academy, but said that the Business Bay location had proved unsuitable for such a venture. "We had a discussion about a tennis academy but found it difficult in Business Bay," he said. "We have thought about the combination of a residential development and an academy and are working on it but have nothing to confirm as yet. We need to find the right location," he said. "We are looking for the next projects to undertake," he added.

Lohmann said the Trilogy project "was inspired to capture that rare spirit of endeavour and enterprise that we see in a select few who take their sport to the zenith to not just be celebrities but global icons". He also said that adding a celebrity brands ensures that "we don't just deliver a great product to our customers, we create an iconic landmark that is instantly recognisable".

To date, ACI Real Estate has announced that its investments in the UAE are valued at Dh10 billion, with developments scheduled for Dubai and Abu Dhabi. As well as the Trilogy project in Business Bay another five towers will soon be launched in Abu Dhabi.

Speaking recently at an investment meeting with German investors, Lohmann said: "The global fluctuations in interest rates and imminent slump in the US will divert funds globally to pockets such as the emirates," adding: "The emerging clarity provided by the long term economic vision of both Abu Dhabi and Dubai signal sustainable gains for commercial and residential space, as well as sustained pricing."