Sunday, May 03, 2009

Omniyat signs partnership deal for leasing services at Business Bay

Omniyat Property Service (OPS), an arm of Omniyat Asset Management has entered into a strategic partnership with leading leasing service providers for major projects at Business Bay.

Omniyat is the first company to lease in Business Bay, the major accomplishment by Dubai, announced Mehdi Amjad, the Chairman and CEO of Omniyat Properties.

The company will deliver two major projects, namely, One Business Bay and Bayswater, worth a total of Dh.1billion. OPS, together with Jones LangLa Salle and CB Richard Ellis Limited-Middle East, guarantees unique leasing solutions to address the individual needs of owners and tenants in Omniyat.

The partnerships ensure that the development attract tenants from markets all over the world and ensures higher occupancy rates in the buildings. Moreover, the rent-free incentives, fit-out offerings and international standard of property management will help in attracting quality tenants.

With six commercial developments in the master plan, the OPS team is the first to deliver the new Central Business District in the region. Being the only company with leasable space in Business Bay, the partners will help in establishing standards for lead market research on vacancy rates and lease rates and pipeline stock.

The Director and Head of Agency Mena at Jones Lang LaSalle, Matt Hammond, said that great emphasize is being laid on customer service and Jones Lang LaSalle will help in finding the right fit for each tenant and owner through innovative deal structures, by bringing the right people together.

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