DIFC announces a tender process to select partners to realise vision for 'city within a city'Press Release 16 Feb 2004 01:29 pm
The Dubai International Financial Centre (DIFC) today announced that it will undertake a sealed bid tender process to either sell selected land parcels or to appoint joint venture partners for the development of specific projects within the centre itself.
The role of the partners will be to develop, according to the specifications of the DIFC, specific parcels within the Centre. In the case of the joint venture agreement, the value of the built-up area of the land will become the DIFC Authority’s equity in the project, confirming the Government’s long term commitment to this vital development. In both cases, the DIFC will manage and operate the properties.
An information session will take place on 23rd February with bids to close at 5pm on 31st March. The session is expected to attract representatives from all of the major development companies in the UAE and the region.
Built around what will be a financial marketplace capable of matching those of London, New York and Hong Kong, the DIFC will represent a unique combination of commercial, residential, leisure and retail space in an ultra modern environment. The DIFC will cover 110 acres of real estate located off Sheikh Zayeed Road by the Emirates Towers. It will become a City within a City, with over 65% of the total site landscaped. A unique four to six level podium will allow for interconnection of buildings throughout the site and will provide over 36,000 car parking spaces and state of the art infrastructure. In addition, DIFC will provide a real 24/7 lifestyle and will have the longest boulevard in Dubai.
“This is an unparalleled opportunity to invest in a unique multi purpose project in a partnership with the Dubai Government.” Said Anis Al Jallaf, Chairman of DIFC
Naser Nabulsi, CEO of DIFC commented, “Support from many of the world’s leading financial institutions confirms the momentum the DIFC has generated since HH Sheikh Mohammed announced our inception and our success is ensured by the ongoing commitment demonstrated by our strategy to seek developers as partners and retaining ownership of the land.”
“I would urge property development businesses to contact us on + 9714 319 1991 or +9714 319 1998, 9am to 6pm Sunday to Thursday for more details and the chance to bid to be involved in the next Dubai success story.” Said Mr Nabulsi.