First phase of the Dubai Financial District well under way
The initial phase of the Dubai Financial District, the real estate component of the Dubai International Financial Center (DIFC) project, is well underway and on schedule. The DIFC’s headquarters building, the Gate, is on course to be completed by the end of the first half of 2004. The piling and excavation work has already been completed.
According to Project Manager of DIFC Real Estate Development Marwan Khalifa Al-Falasi, the DIFC has recently awarded contracts for the construction of the Gate building to Nasa Multiplex as General Contractor, ETA M&E Div as MEP Contractor and ETA Melco for Conveying Systems.
The Gate will be fifteen stories high comprising of 46,000 square meters of prime office space with retail outlets on the ground level and a three-storey basement car park for approximately 1,500 cars. The DIFC’s executive offices will be located on the top two levels, which will occupy approximately 7,000 square meters. The proposed Dubai Regional Exchange will also be headquartered in the building, occupying approximately 2,000 square meters on two floors.
Several of the world's largest investment and wholesale banking institutions have already expressed a keen interest in establishing operations within the DIFC. The construction period will take approximately 13.5 months and is scheduled for completion in July, 2004. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
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