DIFC announces project overview for real estate development
Further reinforcing the wide-ranging vision of Dubai to be a world center for finance, investment and enterprise, the ever-changing skyline of Dubai will be dramatically transformed over the next few years with the creation of the Dubai International Financial Center's Financial District as the focal point of Dubai's new business center.
The first phase of site development will commence later this year. It will concentrate the area closest to Emirates Towers, including the DIFC Headquarters building and the Twin Towers development.
DIFC recently announced the overall project description for the multi-billion dollar development, which will complement the far-reaching activities of DIFC as a global gateway for leading international and regional financial institutions. Building on the best traditions of established international financial centers such as New York, London, Singapore and Tokyo, the Financial District will be a world-class center supporting DIFC's initial core activities of Asset Management, Islamic Finance, Re-Insurance, Back Office Operations as well as a Regional Financial Exchange.
Strategically situated adjacent to Emirates Towers, the Dubai Financial District 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 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. It 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.
The architectural highlight of the Financial District will be the two Gateway Buildings. These spectacular structures, serving as a gateway to the new District, will be in direct alignment with Emirates Towers, positioning the Dubai World Trade Center in-between, thus reinforcing Dubai's historic role as a center of trade and commerce. A grand boulevard will run the length of the development and through the Gateway buildings, forming the main artery of the Financial District.
The Gateway building closest to the Emirates Towers will be the future DIFC headquarters, encased entirely in crystal glass, thus portraying complete transparency, which together with integrity and simplicity forms the foundation of the DIFC offering.
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. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
- DIFC announces mortgage model to revitalise the region’s real estate market
- Rakeen’s participation in RAK Conference will provide comprehensive overview of real estate projects in emirate
- TASWEEK Real Estate initiates USD250 million realty portfolio with acquisition of prime Liberty House commercial property in DIFC
- Riyadh’s real estate market gains increasing momentum