Jumeirah Lakes Towers (JLT) is already quite popular for its beautiful residential facilities. However, there is another aspect to JLT that makes it highly sought-after. It is also home to many leading corporations and organizations.
The development has 65 high-rise towers, including the 64-storey Almas Tower, the tallest commercial tower in the Middle East, that were built for commercial, residential and mixed-use purposes. There are more than 7,400 businesses operating from JLT, with its corporate soul, so to speak, the Dubai Multi Commodities Centre (DMCC) Free Zone.
JLT has industry-specific infrastructure and even provides serviced office options for companies besides a comprehensive client service center. DMCC member companies also enjoy benefits like in-house visa processing and issuance, government and immigration services, fast and efficient licensing and company setup procedures.
Through DMCC, JLT is home to several companies from countries like the UK, US, Canada, Germany, France, Egypt, India, Pakistan and Lebanon to name a few. In fact, the DMCC Free Zone has been declared UAE’s largest free zone development.
Currently, there are plans to expand the DMCC Business Park and build One JLT, which is set to become the world’s tallest commercial tower with a net leasable area of 23,400 square meters. DMCC is especially popular with jewellery companies, with the Dubai Gold and Commodities Exchange, diamond and pearl exchanges, gold refineries and diamond boiling, polishing and cutting facilities located here.
JLT also is a great hub for restaurants offering a wide range of multi-cultural cuisines, and has also attracted medical service providers and even a university.
* JLT has 65 high-rises including the tallest commercial tower in ME
* A large number of firms operate from JLT through DMCC Free Zone
* One JLT, once built, is set to add 23,400 sq.m. of leasable space
Source: Binu Sivan, Special to Properties
The writer is a freelancer