(MENAFN - Khaleej Times) Dubai Properties has announced it has sold an entire building in its Dh6 Billion Bay Square development within hours of release.
The building is an eight floor, mixed use structure offering 11,754 sq. metres of commercial space, 2,116 sq. metres of residential space, and room for 17 retail outlets. It will encompass 53 offices, and 17 one-bedroom apartments.
The record achievement follows Dubai Properties' successful sale of other floors and units of the same and of several other projects since Cityscape Dubai in 2007, the region's largest regional business-to-business property investment and development event.
The remaining buildings within the five million square feet new-age community project will be listed for sale throughout 2008.
Targeting residents, retailers and businessmen seeking a stress-free lifestyle within a corporate environment, Bay Square will comprise 13 mixed use buildings, including a boutique hotel with a 'downtown setting' and a residential tower. The remaining eleven buildings will include mixed-use projects featuring commercial and retail space, terraced apartments and two stories of rooftop apartments.
A pedestrian-only zone, Bay Square will boast retail outlets, a central plaza, restaurants, hosting cafes, and state-of-the-art gym.