Capitalising on its winning bid to stage Expo2020, Dubai has opened the first freehold commercial property in the centre of Deira.
The 12-storey Centurion Star Tower is a joint venture between Royal Star International and Centurion Residence Limited and is a mix of retail and office space built within twin W-shaped towers. The development has a total floor space of 492,000sq ft.
“The commercial real estate sector is set to take a giant leap forward and with Dubai winning the Expo2020 bid demand will be even greater,” said Hamzah Abu Zannad, of Royal Star International, the United Arab Emirates-based development conglomerate. “We have filled a major gap by launching this office property in a city that is experiencing exponential growth.”
Built to offer views of Dubai Creek Golf and Yacht Club, Centurion Star Tower contains 168 offices, 22 shops, four gymnasiums, saunas, and a rooftop pool. Outside, nearly half the surrounding plot has been opened to the public with landscaped gardens and fountains.
The offices — with sizes from 800 to 1,500sq ft and aimed specifically at small and medium-sized businesses — feature floor to ceiling windows to maximise natural sunlight. Access is through a grand double-height lobby.
So far, says Hamzah, “We have had a lot of enquiries from local business entities and overseas investors who want to enter the UAE and set up new businesses.”
Centurion Star Tower has been built in the middle of the Port Saeed area and opposite Deira City Centre. “All the major government establishments, whether it’s the Land Department or Economic Department, the airport or other business houses, are all based in Deira, so proximity was a key for us. We wanted the project to be in the heart of the city,” said Hamzah.
“Through this joint venture we are hoping to launch many other prime properties in the near future,” he added. “Centurion Star Tower is a ready property and we wanted to go ahead with a completed development rather than an off-plan project. It is a great place for any business to just get in and start performing and be productive from day one.”
Royal Star International has an impressive record as a developer specialising in multiplexes and shopping malls. Its biggest project so far is the £506m Fars Shopping Complex in Shiraz, Iran. Opened in 2011, the flagship 420,000sq meter development claims to be the world’s biggest shopping mall with 2,500 retail units.
