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Gulf Press > Business > DIFC Square begins construction on nearly 1 million square foot development – News
Business

DIFC Square begins construction on nearly 1 million square foot development – News

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Last updated: 2024/06/30 at 6:58 PM
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The Dubai International Financial Centre (DIFC) has initiated the construction of DIFC Square, a groundbreaking commercial development comprising three interconnected buildings. This project aims to enhance the real estate offerings within the Centre, meeting the rising demand for Grade A offices in Dubai’s financial district. Kazim, the Governor of DIFC, emphasized the importance of attracting leading businesses to establish their presence within the Centre and expand their operations across the MEASA region and beyond. DIFC Square will provide state-of-the-art office spaces to cater to the increasing need for high-quality commercial properties.

The growth in wealth and asset management, and the insurance sector has resulted in strong tenant demand for DIFC Square, showcasing the project’s strategic appeal and desirable location. The prime location of the development within DIFC offers proximity to key areas such as Downtown Dubai, Dubai International Airport, Sheikh Zayed Road, and other business and leisure destinations. This strategic positioning is expected to attract businesses seeking a premium urban commercial real estate within the vibrant financial district of Dubai.

Spanning a 113,500 sq.ft. plot with a total built-up area of nearly 1 million sq.ft., DIFC Square will provide future tenants with easy access to popular destinations within the Centre, including Gate Village and Gate Avenue. The project will offer 600,000 sq.ft. of office space and 17,200 sq.ft. of retail space, featuring a curated mix of shops and food and beverage outlets. The development aims to create a dynamic environment that caters to the needs of businesses and employees, ensuring a seamless and convenient work-life balance.

Construction on DIFC Square is progressing rapidly to meet the scheduled handover in Q1 2026. The three interconnected buildings will have heights of 58, 68, and 81 meters respectively, with 8, 10, and 13 floors sharing one basement and three podiums. This phased approach to construction aims to expedite the completion of the project while ensuring high-quality standards and adherence to timelines. The fast-track development process reflects DIFC’s commitment to providing cutting-edge infrastructure and facilities to support the evolving needs of businesses in the financial district.

Future tenants and talent at DIFC Square will benefit from the Centre’s vibrant ecosystem and unparalleled amenities, including fine dining options, lifestyle offerings, arts and culture venues, and retail facilities. The project’s proximity to key business and leisure destinations within Dubai enhances its desirability among businesses looking for a strategic location to establish their presence. DIFC Square’s innovative design and premium features are designed to attract leading regional and global businesses looking to thrive in a dynamic and progressive commercial environment.

In conclusion, the development of DIFC Square marks a significant milestone in enhancing the real estate landscape within the Dubai International Financial Centre. The project’s focus on providing Grade A office spaces, retail units, and premium amenities underscores DIFC’s commitment to meeting the evolving needs of businesses and tenants in the financial district. With a prime location, state-of-the-art infrastructure, and a dynamic environment, DIFC Square is poised to become a sought-after destination for businesses seeking a prominent presence in one of the region’s leading financial hubs.

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News Room June 30, 2024
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