DUBAI, United Arab Emirates--(BUSINESS WIRE)--Al Fajer Properties (AFP) is pleased to announce that it has deployed AED 274 million of capital on phase 2 of its AED 1.8 Billion JBC (Jumeirah Business Center) Project. Phase 2 consists of four commercial buildings, three of which are known as the Ebony and Ivory towers. All four towers will be conforming to the highest green building codes complementing the green mandate set out by the Dubai Government and once handed over, will add an additional 1.6 million sq ft of office space and 66,000 sq ft of retail space within the Jumeirah Lakes Towers (JLT) Community.

Given the tremendous progress on phase 1 which consists of 5 towers which are due to be handed over at the end of this year, His Highness Sheikh Maktoum bin Hasher, President of AFP, was quoted as saying, “Our continued investment within Dubai is a strong indication of our belief in the sustainability of the city and the country as a whole and that capital is starting to flow back into the economy once again. We look forward to delivering on our commitments to our customers in record time.”

AFP is the premier developer in the Dubai World DMCC Jumeirah Lakes Towers (JLT) community and is the only developer to include a 5-floor atrium within the lobbies of its towers. Its 9 towers, situated within a free- zone, once completed will offer high-end commercial properties attracting both large local companies and multi-national organizations from around the world. The unique state-of-the-art facilities of the JBC Towers cumulatively offer exclusive freehold offices totaling a leaseable area of 3.6 million square feet and an additional 150,000 square feet dedicated to retail across all 9 towers.

Al Fajer Properties (AFP)

Al Fajer Properties LLC (AFP), was established in November 2004 as a wholly owned subsidiary of AFG (Al Fajer Group). Since then the company has built up a significant land bank of note. The company is currently in the process of developing its flagship project which consists of 9 commercial towers located in the Jumeirah Lake Towers Community. With an estimated project value of over AED 3 billion the company has positioned itself to become a leading player in the fastest growing real estate market in the world.