dubai world trade centre leads the way at the world’s premiere real estate summit
Dubai World Trade Centre (DWTC) has unveiled its major commercial development – Dubai Trade Centre District – at this year’s MIPIM, Europe’s largest property trade exhibition.
The Dubai Trade Centre District has been designed to create an enhanced central business district at the heart the Middle East’s most dynamic economy.
For international companies, the project represents a unique opportunity to lease commercial office space at the epicentre of one of the world’s fastest-growing commercial hubs, with the added advantage of attaining one of the most sought-after business addresses in region.
Dubai Trade Centre District is being developed on the historic site surrounding the World Trade Centre Tower, which was Dubai’s tallest building when it was erected in 1979. Now developed into a major commercial site at the base of the central Sheikh Zayed Road, it is an extremely high profile area of real estate.
The project’s international launch at MIPIM coincides with the first stages of construction in Dubai, with the first phase of the USD 4.3 billion project due for completion in 2010.
“This is a highly advanced, landmark project today that will offer highly advanced infrastructure in a prime location for businesses from across the world,” said Helal Saeed Al Marri, Director General, Dubai World Trade Centre.
“We are delighted to present this project to the international audience gathered at MIPIM, and are confident that it will receive an extremely positive response,” he added.
The architectural consequences of the plan will be profound, transforming the entire area into a new state-of-the-art business quarter, with 200,000 square meters of grade A1 office accommodation, plus 1,000 apartments, 1,000 serviced apartments, retail provision and two hotels.
Using the highest standards in design, the buildings will be environmentally sustainable and will be carefully designed to the highest quality. All offices and residences will make the best use of naturally-lit interior spaces alongside landscaped terraces.
Residents and executives living within the district will have access to the World Trade Club, the city’s most prestigious business venue on the top floor of the landmark World Trade Centre Tower.
As well as its highly-developed infrastructure, attractive environment and famous location, Dubai Trade Centre District will offer the additional benefit of making a significant amount of highly sought-after A1 office space available at a time when Dubai is reaching capacity.
A 2007 study showed that the commercial space vacancy rate in the centre of Dubai is just 1%, at a time when over 40% of businesses are looking to expand their premises. The additional supply of new A1 offices will enable new businesses to enter the regional market with sufficient capacity, and allow established organisations to continue their ongoing dynamic growth.
With such dramatic potential, the Dubai Trade Centre District promises to transform both the architectural skyline and the commercial property market alike.
Interested parties can visit the Dubai World Trade Centre stand at MIPIM, 21.01, in the Harbour Pavilion.
“The rapid evolution of Dubai as a global business centre has been taken to the next level by this project,” added Al Marri.
“The world can now see how Dubai Trade Centre District will add to the urban environment of Dubai and provide a striking architectural statement to the business community. A new type of executive lifestyle and template for business development that others will follow has been created.”