Dubai’s International Financial Centre (DIFC) has started construction of 11th office building in the Gate District.
This is one of the projects which is a part of the plan initiated by DIFC to triple its size over the next ten years. The financial free zone, which was established in 2004, wants to increase the number of commercial financial firms from 362 in 2014 to 1,000 in 2024. Gate building 11 is set for completion by Q2 2017. Gate building 11 will incorporate plans which will comply with the demand for best in class office spaces.
This commercial development is built on an investment of AED 205 million ($55.8 million).The building will be built on a built up area of 200,000 sq ft which will comprise of 160,000 sq ft of office space and retail and F&B outlets spanning over 40,000 sq ft.
The new commercial development will feature six floors of offices, as well as an entire floor dedicated to state-of-the-art business centers equipped with advanced office facilities and secretarial services. Parking coverage for 362 vehicles will be accessible within three subterranean levels and two podium floors. In additions, the new building will feature retail and F&B offerings on the podium level fronting onto a landscaped piazza connecting with the Gate Village podium and invigorating outdoor terrace areas.
At present all office units in DIFC are occupied, new addition of commercial units to DIFC is expected to meet the growing demand. The development of the Gate Building 11 will put DIFC in further prime position to leverage new opportunity and accelerate future progress.
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