1.1 billion dirhams, the cost of a new tower in the heart of the financial district in Dubai
Dubai, 1st May / WAM / The Dubai International Financial Center celebrated the laying of the foundation stone for the “Immersive Tower by DIFC” tower in the heart of the financial district in Dubai.
The commercial tower, which costs 1.1 billion dirhams with a total building area of 115,000 square meters, is strategically located within the Dubai International Financial Center next to Daman Tower, overlooking the ICD Brookfield Tower, and embodies the center’s vision of increasing the supply of prime office space. To meet the evolving needs of companies that are establishing and expanding their businesses within its thriving ecosystem.
The year 2023 witnessed an increase in demand for commercial space in the DIFC, with commercial properties owned and managed by the center and those owned by a third party combined, ending the year with an occupancy rate of 92%.
His Excellency Issa Kazim, Governor of the DIFC, said: “With the growing number of regional and international financial institutions, fintech and innovation companies establishing their headquarters in the DIFC, we recognize the need for first-class office space that meets the needs of the workplaces of the future.” “.
The multi-use tower was designed by IDEAS Engineering and Architectural Design and Dar Group developed it. The tower, which consists of 37 floors, will meet all the needs of the modern workforce, and extends over an area of 58,573 square meters of office space, and about 10,596 square meters of retail space. While an area of more than 680 square meters has been allocated for amenities.
The new commercial tower, which is scheduled for completion in April 2027, represents a mix of business and leisure facilities.
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