Omniyat awards The Opus contract to Multiplex

The main construction contract of Omniyat's Dh.1.7bn 'The Opus', a commercial and retail development at Business Bay, has been awarded to Multiplex, one of the leading commercial construction contractors in the region.

As per the contract, Multiplex has been given the responsibility of managing the development's construction and timely and on-budget delivery of the development.

The President and Chief Executive of Omniyat, Mehdi Amjad, said "The main factor behind awarding the contract of The Opus to Multiplex, is their excellent track record of delivering highly complex, prestigious and challenging projects. We are confident that Multiplex and Omniyat can work together to complete construction of The Opus in a timely and cost-effective manner."

The Opus, located on a unique 'Island' plot, is ideally positioned to provide tenants exclusivity, with a spectacular view of Burj Dubai and the Signature Towers, without any adjoining properties or projects.

Designed with the commercial tenant in mind, The Opus will be ready by 2010. At present more than 80 percent of the development has been sold out.

The project, designed by Zaha Hadid, the renowned architect, will enhance the Business Bay skyline with its unique, iconic, and artistic architectural structure.

Omniyat launches Octavian, twin-tower at Business Bay

Omniyat Properties has announced the launch of 19-storey modern office twin-tower, Octavian, in Business Bay, which happens to be the eighth project by the company in the prestigious downtown business hub of the city.

Octavian, is another 'intelligent' development by Omniyat that reflects futuristic technologies, and is named after 'Galius Julius Caesar Octavianus', the first emperor of Rome and the man behind the most significant developments of the eternal city.

The President and CEO of Omniyat Properties, Medhi Amjad, said "Emperor Octavianus is remembered for his dynamic and inspirational approach to development, the qualities, which we believe are reflected in the unique structure of Octavian, a modern interpretation of a three-dimensional ornament."

The Octavian, which has received approval of RERA (Real Estate Regulatory Authority in Dubai), is a joint-venture between Omniyat and Investate, a Bahrain-based real estate investment company in which Omniyat has a 40 percent stake.

Even before its public launch, 13 floors out of the 19 floors of Octavian were sold within two days. According to a company official, the mad rush is due to the confidence that customers posses in the Omniyat brand name coupled with the strong international appeal of Business Bay.

The Octavian is a unique form of two-transparent towers, connected by a black center-piece, which is so designed that it sparkles in sunlight, emanating lightness and strength. The interior is designed in a manner so as to deliver easy maintenance and operation, along with a classic touch. Both towers of the Octavian has three podiums and four basement parking levels with 1250 bays and hi-tech security as a part of the facility. The ground floor of the building will be alive with 60,000 square feet of land set aside for retail space including restaurants, shops and other outlets.

Located in close proximity to Dubai International Convention and Exhibition Center and the Dubai International Financial Center, the Octavian is designed by Kling Consult, a renowned German Engineering. Enabling work of the project will begin in the third quart this year, and will be complete by 2011.

The Dh.1.2bn project will be the first project of Omniyat this year, and is one of the eight developments which will quadruple the value of the company's Dubai property portfolio to Dh.21bn this year.

Last year the company had doubled its sales and tripled its profits compared to that achieved during the year 2006.