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Amlak buys MBP's first phase for Dh2.6 billion
DUBAI — The first phase of Meydan Business Park (MBP) has been purchased by Amlak Finance for Dh2.6billion.
Phase 1 of Meydan Business Park, in close proximity to Meydan Racecourse and Meydan City, will cover around 1.8million square feet of office space.
The purchase of Phase 1, brokered through Al Khayat Real Estate, is marks the beginning partnership between Meydan LLC and Amlak Finance, according to Meydan Chairman Saeed H Al Tayer.
He said: “We are delighted that Amlak, one of the leading finance companies in this part of the world, has pinpointed Meydan Business Park as a future commercial hub for the region."
Nasser Al Shaikh, Chairman of Amlak Finance, added: “Amlak is pleased to develop a strong, long-term partnership with Meydan. Meydan Business Park is set to become a leading commercial address for Dubai ."
“This is an opportunity for Amlak Finance to extend its core business by very selectively acquiring premium property assets and then retailing them along with innovative financing schemes at a later stage,” he added.
MBP phase 1, served by Dubai-Al Ain main arterial highway, is only 1km from Meydan Racecourse, and is also located about 1.5km from the Ras Al Khor Wildlife Sanctuary.
Meydan Business Park, along with Meydan Racecourse and Meydan City, is being designed by leading Malaysian firm Teo A. Khing (TAK) Design Consultants.
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