Rockefeller launches Dhs1.1 billion office tower on Dubai’s Sheikh Zayed Road

Dubai represents a strategic market where he has long aspired to establish an investment presence, said American businessman Christian A. Rockefeller, a sixth-generation member of the Rockefeller family.“Launching a world-class office tower project in such an exceptional location reflects the scale of our investment ambitions and serves as a first step toward developing further projects and forging new strategic partnerships in Dubai and the UAE,” Rockefeller added.He said so during the announcement of the launch of Christian A. Rockefeller Tower, a branded, Grade A office tower on Sheikh Zayed Road, which is set to become the tallest office tower in the city upon completion.Hamad Al Abbar, Managing Partner at LMD, stated that the initial construction cost for the tower is Dhs1.1 billion, adding that the tower would consist of 87 floors, reaching a height of 400 meters and will span an area of 1.75 million square feet.Al Abbar explained that the real estate market in the emirate entered a new phase that demands greater caution, financial planning and a careful assessment of investors’ needs.This stands in contrast to the previous period, during which the market was able to absorb most real estate projects, regardless of the developer’s identity or the nature of the product, he added.