*The JACX is a 1.2mn sqft creative office development featuring two 26-storey office towers, a one-acre podium elevated five storeys above street level that is landscaped to represent a tranquil City Park, and 50,000sq ft of retail space
Qatari Diar, a global leader in sustainable real estate, has announced the completion and leasing of all areas of The JACX project in Long Island City, New York, USA.
One of the largest commercial projects in Long Island, The JACX has been implemented through a partnership between Tishman Speyer, the prestigious American real estate company, and Qatari Diar, which owns 80% of the project.
The on-site opening event and ribbon-cutting ceremony was attended by HE Sheikh Khalid bin Khalifa al-Thani, chairman of the Board of Directors of Qatari Diar; and Abdullah bin Hamad al-Attiyah, CEO of the company; along with Rob Speyer, president and CEO of Tishman Speyer; Elizabeth Lusskin, president of Long Island City Partnership and executive director of the Long Island City Business Improvement District; representatives from the city of Long Island and a number of dignitaries, investors and officials.
The office tower is set to become one of the most influential commercial developments that Long Island City has seen, Qatar News Agency reports.
The JACX is a 1.2mn sqft creative office development featuring two 26-storey office towers, a one-acre podium elevated five storeys above street level that is landscaped to represent a tranquil City Park, and 50,000sq ft of retail space. With the building already meeting the needs of a new generation of professionals keen to call Long Island City home, Qatari Diar highlighted the positive impact that The JACX has had, and will continue to have, on the local community and beyond.
HE Sheikh Khalid said, "Qatari Diar is extremely proud to add The JACX to our growing US portfolio, alongside our projects in Washington, D C. The building now joins some of the most celebrated and iconic landmarks to grace the New York skyline, and we're delighted to be placed among them. It is the first project that Qatari Diar and Tishman Speyer have collaborated on together in the US, and we hope that the success of The JACX will provide a foundation for further projects in New York, the wider US and across the world in the years to come."
Al-Attiyah noted, "Qatari Diar has felt from the beginning the growing need to develop a project such as The JACX, which provides a significant addition in office and commercial space to the business community in Long Island, and this was clearly demonstrated through the increased demand for the project, where all the offered spaces were leased during the initial launch of the project to a number of prestigious companies and institutions. Despite the pandemic, one of the biggest economic downturns in US history, we were able to stabilise occupancy and maintain the appeal of this fantastic building - ensuring its continued success.
"Now, as we officially launch the development for the first time, we see the vision become a reality as The JACX continues to breathe new life into the community and beyond. It is great to see the wealth of benefits and opportunities that the project provides the neighbourhood come to life - ranging from new jobs through to medical facilities and retail services, and we're extremely proud to have delivered such a transformative offering to the city.
"Thanks to this, the economic benefit for the area is estimated at $254.5mn - an impressive contribution that we are delighted to be behind. Moreover, the project has created 952 jobs during its construction alone, and once fully occupied, an estimated 3,380 permanent roles will exist within the building."
Al-Attiyah continued, "We are pleased to see the environmentally responsible design that The JACX boasts of come to life in what will be home to thousands of innovators, creators, leaders and entrepreneurs. We are passionate about creating entirely new destinations that are at the forefront of sustainability around the world, and we're delighted to add The JACX to our repertoire through its credentials - including the park and numerous energy-saving designs throughout the building."
Speyer said, "We are proud to have partnered with Qatari Diar, a global leader in sustainable real estate, to deliver a world-class creative office building that will have a lasting, positive impact on the surrounding community. The JACX is an impressive addition to our global portfolios. Our shared success here will pave the way for collaborations in the future."
Lusskin added, "It would be impossible to overstate the significance of this building - it is the culmination of decades of work to build New York City's 4th Central Business District in Long Island City, a gorgeous addition to the skyline, home to a series of neighborhood changing amenities, and presenter of a beautiful streetscape befitting this central crossroads."
One of the largest commercial projects in Long Island, The JACX has been implemented through a partnership between Tishman Speyer, the prestigious American real estate company, and Qatari Diar, which owns 80% of the project.
An external view of The JACX
The on-site opening event and ribbon-cutting ceremony was attended by HE Sheikh Khalid bin Khalifa al-Thani, chairman of the Board of Directors of Qatari Diar; and Abdullah bin Hamad al-Attiyah, CEO of the company; along with Rob Speyer, president and CEO of Tishman Speyer; Elizabeth Lusskin, president of Long Island City Partnership and executive director of the Long Island City Business Improvement District; representatives from the city of Long Island and a number of dignitaries, investors and officials.
The office tower is set to become one of the most influential commercial developments that Long Island City has seen, Qatar News Agency reports.
The JACX is a 1.2mn sqft creative office development featuring two 26-storey office towers, a one-acre podium elevated five storeys above street level that is landscaped to represent a tranquil City Park, and 50,000sq ft of retail space. With the building already meeting the needs of a new generation of professionals keen to call Long Island City home, Qatari Diar highlighted the positive impact that The JACX has had, and will continue to have, on the local community and beyond.
HE Sheikh Khalid said, "Qatari Diar is extremely proud to add The JACX to our growing US portfolio, alongside our projects in Washington, D C. The building now joins some of the most celebrated and iconic landmarks to grace the New York skyline, and we're delighted to be placed among them. It is the first project that Qatari Diar and Tishman Speyer have collaborated on together in the US, and we hope that the success of The JACX will provide a foundation for further projects in New York, the wider US and across the world in the years to come."
Al-Attiyah noted, "Qatari Diar has felt from the beginning the growing need to develop a project such as The JACX, which provides a significant addition in office and commercial space to the business community in Long Island, and this was clearly demonstrated through the increased demand for the project, where all the offered spaces were leased during the initial launch of the project to a number of prestigious companies and institutions. Despite the pandemic, one of the biggest economic downturns in US history, we were able to stabilise occupancy and maintain the appeal of this fantastic building - ensuring its continued success.
"Now, as we officially launch the development for the first time, we see the vision become a reality as The JACX continues to breathe new life into the community and beyond. It is great to see the wealth of benefits and opportunities that the project provides the neighbourhood come to life - ranging from new jobs through to medical facilities and retail services, and we're extremely proud to have delivered such a transformative offering to the city.
"Thanks to this, the economic benefit for the area is estimated at $254.5mn - an impressive contribution that we are delighted to be behind. Moreover, the project has created 952 jobs during its construction alone, and once fully occupied, an estimated 3,380 permanent roles will exist within the building."
Al-Attiyah continued, "We are pleased to see the environmentally responsible design that The JACX boasts of come to life in what will be home to thousands of innovators, creators, leaders and entrepreneurs. We are passionate about creating entirely new destinations that are at the forefront of sustainability around the world, and we're delighted to add The JACX to our repertoire through its credentials - including the park and numerous energy-saving designs throughout the building."
Speyer said, "We are proud to have partnered with Qatari Diar, a global leader in sustainable real estate, to deliver a world-class creative office building that will have a lasting, positive impact on the surrounding community. The JACX is an impressive addition to our global portfolios. Our shared success here will pave the way for collaborations in the future."
Lusskin added, "It would be impossible to overstate the significance of this building - it is the culmination of decades of work to build New York City's 4th Central Business District in Long Island City, a gorgeous addition to the skyline, home to a series of neighborhood changing amenities, and presenter of a beautiful streetscape befitting this central crossroads."
