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About Palace Towers, Silicon Oasis Palace Towers is a mixed-use complex in Dubai Silicon Oasis consisting of two high-rise buildings. One is referred to as Palace Tower 1, which is a 27-storey commercial building. The other is a 24-floor residential building called Palace Tower 2. Palace Towers, Silicon Oasis was developed by Tameer Holding Investments, while its design has been done by Al Hashemi architects. The construction of the project started in 2007 and it was completed in 2009. The exterior design of Palace Towers buildings features a blend of neo-classical and postmodern architecture. The commercial building consists of 150 offices, whereas the residential tower features 424 apartments. Housing 17 retail units, the project also features a total retail area of 33,000 sq. ft. spread across the ground level. Palace Towers features a range of facilities, such as a fitness club, a swimming pool, play area and spa services. In addition to being situated opposite Academic City, the complex also houses an educational institute called British Orchard Nursery. A holistic community, Dubai Silicon Oasis is free-zone urban development situated at the gateway to ‘New Dubai’. Ranking among the top five areas of the city, its popularity for renting apartments is clearly reflected through Bayut’s Market Report for 2020. This 7.2 million sq. m. large technology park hosts a number of commercial properties as well as a variety of accommodations.