The new Dubai National National Insurance & Reinsurance building is the latest desirable property to come up on Dubai's Sheikh Zayed Road

You do not have to be a real estate genius to realise that one of the prime pieces of land for development in Dubai is running out of space.

The two kilometre stretch leaving Dubai for Abu Dhabi between the World Trade Centre and Defence Roundabout sees skyscrapers stand shoulder to shoulder, with the few spots remaining already undergoing heavy development.

While there is plenty of room on the opposite side of the road to build, developers seem keen to remain on the same side where road access is so much more convenient.

So continue to build on the right hand side of the road they have and one of the most blossoming areas of development now is beyond the Defence Roundabout before the next interchange.

While a shopping centre and apartments have recently reached completion, an office block has just opened its doors for business with space expected to be snapped up in quick time, according to its landlord.

"This new building allows businesses to be located on the Sheikh Zayed Road without paying the extremely high prices associated with the area," said Anil Mathew, senior commercial consultant for Asteco, the company in charge of the impressive new Dubai National Insurance & Reinsurance Building (DNIR).

"The office prices are very competitive and we expect it to be filled quickly." Located a stone's throw from Thunderbowl, the DNIR Building's two showroom offices will so far be used by the National Bank of Ras Al Khaimah. But above these smart showrooms are three floors of office space of varying sizes from 600sqft to 14,000 sqft. "It is an extremely flexible facility," said Mathew. With all the amenities and features expected from a modern day office facility, the DNIR Building has been constructed following excellent artistic design to make it an instant enhancement of the area The building also prides itself on the parking it provides and its accessibility to the Sheikh Zayed Road. "Parking is becoming a real headache for offices on the prime area on Sheikh Zayed Road," said Mathew. "Parking meters have also recently been introduced so it is an additional problem for people visiting those buildings. The DNIR Building does not suffer from such problems as there is a huge area allocated for parking behind the building."

Standing three stories high means workers and visitors do not endure long waits for lifts.

With five years in the real estate business here, Mathew has seen a lot of changes and is well qualified to say that this building offers value for money. "We have received a lot of interest already in this building," he said. Leasing inquiries should be made to Anil Mathew at Asteco on 050-6249196.