Jumeirah Lakes Towers successfully completes residential cluster

Jumeirah Lakes Towers successfully completes residential cluster

• Cluster S with three towers and retail areas complete
• Signifies progress in enhancing JLT’s appeal as popular freehold destination

Dubai, June 26, 2010: The 200-hectare Jumeirah Lakes Towers (JLT) free zone administered by the Dubai Multi Commodities Centre Authority (DMCC) reached a significant milestone in its ongoing development with the completion of the S Cluster, one of 26 similar Clusters within JLT, which comprises three residential towers and will eventually support approximately 1,400 residents. Cluster “S” offers residents a premium community environment within the JLT, a mixed-use free zone in Dubai with freehold property options.

“The JLT development will consist of 87 towers and is well on its way to becoming a vibrant community with the first complete cluster being handed over at Cluster “S”,” said Ahmed bin Sulayem, Executive Chairman of DMCC. “JLT was conceived as a mixed-use development catering to both businesses and residents with the promise of a superior quality of life with its world class infrastructure and living amenities.
The completion of this first cluster reinforces this objective and signifies the sustained progress made by DMCC as a master developer to make the JLT free zone the most sought after address for residents and businesses alike.”

Cluster S boasts landscaping and walkways, promenade seating and retail, surrounding one of the four lakes that will eventually form the hub of activity in the JLT development. The JLT, when complete will house some 140,000 residents.
A dynamic community comprised of high-rise residences, expansive retail and spacious offices, JLT offers the best of all worlds, in new Dubai’s most desirable district. JLT will comprise 87 purpose-built towers and supporting infrastructure.
JLT houses DMCC’s headquarters and over 2,000 other local, regional and international firms. The development is fully equipped with state-of-the-art facilities designed to provide industry-specific support to DMCC member companies.

About DMCC:
DMCC was created in 2002 as a strategic initiative of the Dubai Government to establish a commodity marketplace in Dubai. DMCC provides the market infrastructure that brings together a wide range of commodities activities, and is committed to serve the needs of participants in the gold, diamonds and commodities markets. Resident companies of DMCC are offered highly attractive benefits under a free-zone status, including a 50-year guaranteed tax holiday, 100 per cent business ownership, full ownership of business premises, and a secure regulated environment.

STATEMENT FROM DUBAI MULTI COMMODITIES CENTRE AUTHORITY ("DMCCA")

STATEMENT FROM DUBAI MULTI COMMODITIES CENTRE AUTHORITY ("DMCCA")

November 2, 2009

With the highly anticipated completion of the Jumeirah Lakes Towers (JLT) community and the DMCC’s buildings (Almas Tower, AU Tower, AG Tower and J&G), the Dubai Multi Commodities Centre Authority wishes to state that JLT is an integral part of the Dubai Multi Commodities Centre free zone (“DMCC”) and therefore enjoys absolute free zone status. The DMCC was established by way of a Dubai Royal Decision dated the May 1, 2002 in which DMCC’s free zone status is clearly stated. Today, 1,800 companies avail themselves with the free zone state-of-the-art facilities in JLT.

DMCCA would also like to state that anyone wishing to establish a company and operate within the JLT free zone boundaries is required to be licensed by DMCCA. All premises within the JLT are subject to DMCCA rules and regulations without exception.

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About DMCC:
The Dubai Multi Commodities Centre (DMCC), a strategic initiative of the Government of Dubai, was established in 2002, with a mandate to provide the physical, market and financial infrastructure required to set up a commodities market place in Dubai. The Centre attracts key players throughout the entire value chain of a wide range of commodities sectors, together with relevant support industries such as finance, logistics and insurance. DMCC has established a robust infrastructure, including free zone status, trade networking platforms, secure vaults and purpose-built storage facilities. Resident companies of DMCC are offered highly attractive benefits under a free zone status, including a 50-year guaranteed tax holiday, 100 per cent business ownership, full ownership of business premises, and a secure regulated environment. DMCC has also implemented a dedicated compliance policy in the organisation, which is in line with the compliance related laws and regulations of the UAE Federal Government and the competent international bodies.