How Central Park Towers, DIFC, opens up new avenues for Dubai’s real estate market

Give us an overview of the Central Park Towers (CPT) project and its USP compared to other developments within DIFC?
We are one of the largest single-owned properties in the DIFC area – certainly the reason why over 120 companies have chosen Central Park Towers as their office destination. Numerous other reasons include our location at the start of DIFC which allows for the easiest access to and from DIFC; the parking experience for visitors and tenants being the only building in DIFC that is able to offer 3-hours of free visitor parking inside the property. Our single ownership proposition also ensures maximum efficiency, where clients can move to a larger unit with no penalty and also avail of flexibility in leasing terms. Our property has hosted several events over the years including the Gulf Business Awards and Gov Games.

Recently, CPT launched a fitted floor office space that also offered 12 months of free rent. What has been the response to it?
We now have a total of five fitted floors within the building, and the latest one comes with its own exclusive terrace where people can get fresh air during their break, which is rare in a high-rise office tower. We have been very successful with leasing and recorded 80 per cent leased space within the first five months from the launch. In the market, there is a demand for fitted spaces, which serve small-medium companies well as most of them prefer flexibility when starting off. They can subsequently easily upgrade the fit out or choose to start in an open plan environment.

What are some of the key incentives being offered to residential and retail tenants within CPT?
Our residential building is fully occupied, and I believe the amenities and location are the biggest reason for this success. On the retail side, we are very happy to be home to over 30 retailers, including ten restaurants. These include Spinneys, Starbucks, British Orchard Nursery, Barry’s Bootcamp, Fogo De Chao and others.

What safeguards can your tenants avail when choosing to set up their business in CPT?
DIFC has been one of the most popular areas for many in the financial, legal, or investment businesses. We are proud to be located within the DIFC jurisdiction and will continue to attract many more companies who would like to set up office in Dubai under the DIFC regulations.

What are some of the expansion and growth plans that CPT has in the pipeline?
With the great progress of the Gate Avenue bridge link connection to Central Park Towers – which will be completed in Q3 2022 – our property will be the last one to connect with Gate Avenue which will bring additional traction in the area.