If you thought the Dubai International Financial Centre (DIFC) district was already big, wait until you hear the plans for DIFC 2.0.
Vice President and Prime Minister of the UAE and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum has approved plans to triple the scale of the district.
The growth plan will add 13 million sq ft to the financial hub to support the economic future of Dubai, and to be an enhanced growth platform for major international financial institutions.
Developments of DIFC 2.0 will start immediately, and will be completed in several stages. No official date on when it will finish has been announced yet, so watch this site for further updates.
Once finished, the district will have 6.4 million sq ft of office space, 2.6 million sq ft of creative space, 1.5 million sq ft of residences, 1.3 million sq ft of retail space and 700,000 sq ft devoted to leisure and entertainment.
The new district will also have direct connections to public transport and “embrace the pedestrian lifestyle” by including underground service paths for bikes, people, cars and smart transportation.
HH Sheikh Mohammed highlighted the importance of DIFC in supporting the Eight Principles of Dubai, focusing in particular to Emirate’s position as a business capital and a hub for international investment.
Governor of DIFC His Excellency Essa Kazim briefed His Highness about plans for DIFC 2.0, stating the new development will have a focal point for FinTech and innovation, “enhancing the Centre’s reputation”
“The financial sector remains one of the cornerstones of our economy”, said Vice President and Prime Minister of the UAE and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum.
“The next phase requires the introduction of the latest technologies that can support the growth of various business sectors.”
Being the largest international financial hub in the MEASA region, DIFC has more than 22,000 professionals working across 2,000 different companies in the district.
For more info, head to www.difc.ae
We can’t wait to see how the upgrade turns out.