Dubai's DIFC to get 13 million square foot expansion
DIFC 2.0 will triple the scale of the city’s financial hub…
HH Sheikh Mohammed Bin Rashid Al Maktoum Vice President of the UAE and Ruler of Dubai has approved plans to add a 13 million square foot extension to Dubai’s DIFC.
The DIFC extension will begin immediately, and be completed in several phases. When complete, it will triple the size of the city’s financial hub.
When finished, the new district will comprise of 6.4 million square feet of office space, 2.6 million square feet of creative space, 1.5 million square feet of residences, 1.3 million square feet of retail space and 700,000 square feet devoted to leisure and entertainment.
A financial campus covering approximately 400,000 square feet, an additional 250,000 square feet of hospitality offerings, and 3.5 million square feet of car parking space will also be added.
“The next phase requires the introduction of the latest technologies that can support the growth of various business sectors,” Sheikh Mohammed said, upon approving the project. “We are not only trying to meet the requirements of the present time but also be a major contributor to shaping the future of the world’s economy and positively influence greater well-being for the world,” he added.
DIFC 2.0 will be an extension of the existing DIFC area and come complete with direct access to public transport networks, underground service paths and plenty of green spaces.
DIFC was set up 15 years ago and is now the largest international financial hub in the MEASA region. It is currently home to more than 22,000 professionals working across some 2,000 companies.