Dubai to build muti-billion dollar finance district

Dubai International Financial (DIFC) announced yesterday the overall project description for a multi-billion dollar financial district, with aims to be a global gateway for international and regional financial institutions.

  • E-Mail
By  Massoud Derhally Published  June 12, 2002

Dubai International Financial (DIFC) announced yesterday the overall project description for a multi-billion dollar financial district, with aims to be a global gateway for international and regional financial institutions.

Building on the best traditions of established international financial centres such as New York, London, Singapore and Tokyo, the Financial District will be a world-class centre supporting DIFC’s initial core activities of Asset Management, Islamic Finance, Re-Insurance, Back Office Operations as well as a Regional Financial Exchange.

The financial district will be situated next to Emirates Towers and running parallel to Sheikh Zayed Road to Interchange 1. It will cover more than 3.5 million square feet of land and will include a wide range of buildings, including the signature Gateway buildings.

“The new DIFC Financial District is unprecedented in the region” said DIFC COO, Hussain Al Qemzi. “This world-class real estate development will create a tremendous environment to host the best international and regional financial institutions, realizing the Dubai Government’s vision of Dubai as a gateway for capital and investment.”

The Financial District will include more than nine million square feet of master-planned office and commercial development with the latest in architectural form, innovative interior design and networking. The Financial District will also include dramatic public spaces including expansive boulevards, lush landscaping, innovative water features, public art, shopping precincts and restaurants. Special attention is being paid to traffic management and covered parking to ensure the integrity of the outdoor plazas and recreation areas.

According to DIFC, the entire Financial District will be developed in phases as set out in the integrated master plan for the development. The majority of the towers will be for office use, with commercial and recreational areas on the lower levels. Some of these buildings may be designated for residential or mixed-use development.

The first phase of site development will commence in late 2002.

Add a Comment

Your display name This field is mandatory

Your e-mail address This field is mandatory (Your e-mail address won't be published)

Security code