Two of the largest brokerage and analytical agencies in Dubai have signed contracts to promote and market Dubai South mixed-use complex (formerly known as Dubai World Central), a large-scale development project launched recently in Dubai.
Under the agreement, CBRE and JLL will put up 2 million square feet for sale and lease in 11 office buildings in Dubai South, located near the site prepared for the World Expo 2020 and in close proximity to Al Maktoum International Airport.
Given the specificity of the complex, a large amount of space required to accommodate both offices of international companies serving Expo 2020 and also all kinds of related services. It is known that rents for warehouses in the area range between USD 8 and USD 11 per sq ft. This way Dubai government and Dubai South master developer seek to lure more foreign investors and large corporations to its Business Park Free Zone.
“The Business Park Free Zone forms an integral part of Dubai South, allowing companies based here to enjoy the distinct advantages of the 145 sq kilometre master planned city. including proximity to the Al Maktoum International Airport, the Jebel Ali Port and to the venue of the World Expo 2020,” said Paolo Serra, the vice president of the Business Park at Dubai South.
Dubai World Central, recently officially renamed for Dubai South, is of key importance for the future development of Dubai. Launched in 2006, the project is the world’s first purpose-built 'aerotropolis', i.e. the city in the city, concentrated around the international airport as its main dominant. Residential, office and commercial buildings, entertainment areas are to be constructed here. And the Al Maktoum airport will have a capacity of 160 million passengers and 12 million tons of cargo per year upon completion.
First residential complex consisting of 6000 homes, including apartments, villas and townhouses, will be handed over in 2019.