“Al Mal & Aqar Joint Projects Company” was established in the 3rd quarter of 2005, in cooperation with Aqar Real Estate Investment Company (Aqar). The new company merged Injazzat’s two plots with Aqar’s plot in Sharq covering an area of 3,000 sqm. The intention is to develop an office tower with built up area of nearly 35,000 sqm. Injazzat holds 66.6% of equity in the new company while Aqar holds 33.3%. Work is currently in progress, to obtain the required licenses. The project is hoped to make a significant addition to the area, which witnesses continued development, enhancing its stature as an area of commercial focus. It is noteworthy that the tower design, which was prepared by the international designers W.S Atkins, was granted the prestigious “Future Projects Award for Offices” at the MIPIM 2007 exhibition in Cannes, France.