DUBAI, 15 May 2007 — Zahran Group, a Saudi-based industrial investment conglomerate, in partnership with Ishraqah, a pioneering real estate development and investment company, has announced the launch of “The Onyx”, an AED1.8 billion mixed-use corporate destination, at a press conference held yesterday at the Burj Al-Arab in Dubai.
“The project will offer investors the first freehold corporate opportunity available in the area on Sheikh Zayed Road next to Emaar Business Park, and will exemplify an open-design concept with views of The Palm Jumeirah and the Emirates Golf Course. On completion in early 2010, The Onyx will feature three modern towers in an integrated environment with a business hotel, office spaces, dining outlets and retail facilities,” said Hesham El Far, managing director, Ishraqah.
Ibrahim A. Al-Asseri, vice president, Zahran Group, said “the large investment allocated to this project underscores our belief that Dubai’s emergence as a corporate powerhouse must be supported by developments such as The Onyx.” A complete corporate community is earmarked for construction, incorporating one 25-storey office tower and another 16-storey office tower, in addition to a 14-story hotel with 200 rooms and 10 suites.
To link the three towers, an interconnected podium area is also being constructed, in addition to a modern rooftop terrace, a skylight and complementary landscaping.
The Zahran Group is a premier industrial, operations and maintenance group, currently ranked among the top 100 companies in Saudi Arabia.