DIFC Square breaks ground on near 1mn sq.ft. development

Project has elicited robust tenant demand

By WAM

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Published: Sun 30 Jun 2024, 5:27 PM

Dubai International Financial Centre (DIFC) has broken ground on DIFC Square, a landmark development and commercial project comprising three interconnected buildings. It will feature offices and retail units, significantly boosting the Centre's real estate offerings while meeting the growing demand for Grade A offices in the heart of Dubai's financial district.

Kazim, Governor, DIFC, said, "As DIFC continues to strengthen its position as a world-class financial hub, leading regional and global businesses are establishing their presence in the Centre to grow their network and expand across the MEASA region and beyond. DIFC Square will become a valued addition to the Centre's growing real estate portfolio by providing future-forward, Grade A office spaces dedicated to meeting the demand for high-quality, future-centric commercial property."

Driven bygrowth in both wealth and asset management and the insurance business, DIFC Square has elicited robust tenant demand, underscoring the project's strategic appeal and prime location, while highlighting the strong interest and growing demand for DIFC's premium urban commercial real estate.

Strategically situated in DIFC, the project offers proximity to Downtown Dubai, Dubai International Airport, Sheikh Zayed Road and other key business and leisure destinations.

Developed on a 113,500 sq.ft. plot, with a total built-up area (BUA) of nearly 1mn sq.ft., DIFC Square's future tenants and talent will benefit from close proximity to the Centre's most sought-after destinations, such as Gate Village for fine dining, lifestyle, arts and culture, and Gate Avenue's extensive range of restaurants, gyms, and retail facilities.

Providing 600,000 sq.ft. of office space, DIFC Square will feature 17,200sq.ft. of retail space, including a curated mix of shops and F&B outlets.

With the enabling and foundation works well underway, construction on DIFC Square is being fast-tracked in order to meet the scheduled handover in Q1 2026. Featuring 8, 10, and 13 floors, sharing one basement and three podiums, the height of the three buildings are 58, 68 and 81 metres respectively.