Deyaar to hand over The Citadel in August

1. Seventh Deyaar project to be delivered in 2009
2. AED 700 million premium office tower located in Business Bay
3. Project comprises 565,000 square feet of office space and 29,000 square feet of retail
4. Customer orientation to be held on July 18

Fulfilling its commitment to hand over seven projects in 2009, Deyaar Development PJSC, a regional real estate company dedicated to innovation, customer care and long-term sustainable growth, today announced that it will hand over in August all units at The Citadel, its premium 41-storey commercial tower located in the Business Bay master development.

The Citadel comprises 565,000 square feet of office space, including 406 state-of-the-art, contemporary commercial units, and 29,000 square feet of retail. The project is strategically located within minutes of Sheikh Zayed Road, the upcoming airport in Jebel Ali, and all major shopping malls and business clusters in Dubai. The Citadel is one of the first projects to be delivered in the Business Bay master development.

“With the handover of The Citadel, Deyaar will have successfully fulfilled its handover commitments for 2009,” said Markus Giebel, Chief Executive of Deyaar. “At Deyaar, we have consistently set high benchmarks of quality and value in our projects, and The Citadel is no different. As one of the largest developers in Business Bay, Deyaar’s projects occupy a place of prominence within this master development. We are confident that the design and quality of The Citadel will prove to be extremely beneficial to all businesses and commercial establishments operating from the tower.”

Deyaar will also host an orientation programme for all customers on July 18, 2009, at 11:00am ahead of the final delivery. The orientation programme will be used to update customers with the final documentation procedure for their respective units to discuss the building operating budget and facilities management contract. Additionally, an explanation of the building systems, amenities and personnel will also be provided.
The Citadel is the latest in the line of high-quality projects completed and delivered by Deyaar in the past few years. Facilities at the project include 24-hour security and ample parking space, among others.

About Deyaar:
Deyaar Development PJSC is one of the fastest growing real estate companies in the region. Headquartered in Dubai, the company has grown significantly since its inception to evolve into a complete one-stop real estate solutions provider. Today, Deyaar stands at the forefront of the regional real estate sector, with interests in real estate development, property and facilities management, marketing and sales. Deyaar’s strategic solutions and deep market insights have helped create exceptional value for its investors. The company currently manages over 16,000 commercial and residential properties. Its operations are divided across four key business units, vis-à-vis, property development, lease management, asset management, and fund management divisions. Deyaar is well positioned to play a pivotal role in the development of the region’s property landscape. The company complies with the Escrow legislation and all relevant property laws in the UAE. Deyaar is registered with the Real Estate Regulatory Authority under reference number 15/07.