Dubai-based boutique real estate firm SWEID & SWEID Development has broken ground on a new commercial building, The Edge, in Dubai Internet City (DIC).
The seven-storey building will cover an area of more than 100,000ft², which will house several multinational and regional companies seeking modern, efficient office space.
In addition, The Edge will offer retail areas on the ground floor and more than 80,000ft² of underground parking space.
SWEID & SWEID Development chairman Mohannad Sweid said: "Dubai Internet City remains to be one of the most sought after locations for major multinational corporations, given its low density, proximity to the Sheikh Zayed Road, and surrounding residential communities such as Dubai Marina, Tecom C and JLT.
"Furthermore, we believe The Edge will distinguish itself as a single-owned, highly efficient, modern product that falls in-line with market demand.
"We have been careful not to rush to construction and take our time during the design process to ensure that will we be delivering exactly what the market needs, and setting a new benchmark for development in Dubai Internet City in terms of quality and efficiency."
The building is designed by Brewer Smith Brewer Gulf (BSBG), a UAE-based architecture, engineering and interior design group.
Dubai Internet City and Dubai outsource zone managing director Majed Al Suwaidi said: "Dubai Internet City is now home to over 1,400 companies from across the ICT value chain and over the past year we have witnessed the expansion of several business partners as well as welcomed a large number of new companies into our community.
"In-line with this, The Edge will further support the needs of existing and future business partners and Dubai's ICT industry and vision to be a leading knowledge-based economy."
The Edge is scheduled to be completed and ready for occupation by 2016.