Tulip announces launch of office tower project in Business Bay

New freehold tower boasts spectacular water views from every office.

[ClickPress, Mon Mar 20 2006] After the remarkable success of their project; ‘Westside Marina’, Tulip Business Developers announced today the launch of their new 450 Million AED project Peninsula: an exclusive freehold office tower covering an approximate construction area of 580,000 square feet with the latest in modern technology, featuring spectacular water views from every office.

Tulip Business Developers is one of the leading private property developers in the UAE with an impeccable reputation for offering quality and luxury to their clients. With the necessary capital resources, professional expertise, and network of world-wide credited partners, Tulip Business Developers has the necessary components for being part of the ever-expanding commercial property market. As well as excelling in the field of Real Estate, Tulip’s founder has achieved great success in Trade and Hotel Development with operations spanning world-wide across Canada and the Middle East.

“Our ongoing dedication to developing quality and unique projects has become the trademark of Tulip over the years. With the commercial property sector in Dubai booming, demand for luxurious and exclusive office space is at an all time high. We believe that the development of Peninsula at this time directly complements this expansion in the market and will further establish our company as a major player in the real estate industry in Dubai,” said Mr. Masoud Sangi, the president of Tulip Business developers.

On Wednesday March 14th, the Dubai Government issued a long-awaited property law that legalizes freehold ownership of land and property to UAE and GCC nationals and, in certain areas, to expatriates. This new law now means that expatriates, as well as UAE and GCC nationals, can register their property with the land department.

“We believe that the new law will create a healthy boom in the freehold market by greatly improving investor confidence in Dubai, especially among expatriate investors who held back from investing in Dubai due to the absence of the law. We at Tulip have the highest confidence in Dubai’s property market, and this is reflected in our commitment and dedication to all of our projects,” added Mr. Masoud Sangi.







Set in Business Bay, Peninsula is a 20 story freehold office building featuring the highest quality interiors, advanced communications systems, well-designed spaces maximized for efficiency and productivity, and magnificent views of the waterways and canals from every office. Also featured are 22,000 square feet of retail spaces ideal for coffee shops and restaurant at the waterfront. Features go on to include a fully equipped Business Center, a state-of-the-art health club, swimming pool and sauna, an Aerobics fitness centre, and a Virtual Golf Course; the only one of its kind in Dubai.

“Tulip is committed to providing quality developments that address the needs of today’s market. With our residential Westside project we wanted to create a community-based living space for families; and we succeeded. Based on the remarkable success of the Westside project and the exceptional feedback we received, we are confident about moving forward with Peninsula to provide luxurious, exclusive office spaces for the commercial industry,” - said Mr. Masoud Sangi.

Tulip has appointed Consultant M/s Adnan Saffarini, one of UAE’s most highly-recognized and well established architectural firms, as the design and architecture consultants for Peninsula with completion of the project expected by the end of 2008