Following the overwhelming success of One @ Business Bay, and realizing the considerable demand for prime office space in Dubai, IIB in 2006 launched its second deal in the Business Bay district of Dubai. Bay Development Properties Limited was established to own 65% of West Bay Tower, a 30-storey, state of the art, commercial tower in Dubai to be constructed at a total cost of US$89 million. IIB entered into a partnership with SNASCO, an investment company based in Jeddah, Saudi Arabia, to jointly develop West Bay Tower. The tower is located near the entrance gateway of the new and strategically located Business Bay development that forms part of the new dynamic “Downtown” area of Dubai.

The projected Return On Investment (”ROI”) to IIB’s investors is an impressive 77% representing an Internal Rate of Return (”IRR”) of 21.6% per annum over the 36 month investment horizon. It was heavily oversubscribed by investors from across the GCC in June 2006.