Dubai International Financial Centre announces project overview for real estate developmentPress Release 11 Jun 2002 12:57 pm
DIFC announced today the overall project description for the multi-billion dollar development, which will complement the far reaching activities of DIFC as a global gateway for leading international and regional financial institutions.
Building on the best traditions of established international financial centres such as New York, London, Singapore and Tokyo, the Financial District will be a world-class centre supporting DIFC’s initial core activities of Asset Management, Islamic Finance, Re-Insurance, Back Office Operations as well as a Regional Financial Exchange. The architectural highlight of the Financial District will be the two Gateway Buildings. These spectacular structures, serving as a gateway to the new District, will be in direct alignment with Emirates Towers, positioning the Dubai World Trade Centre in-between, thus reinforcing Dubai’s historic role as a centre of trade and commerce. A grand boulevard will run the length of the development and through the Gateway buildings, forming the main artery of the Financial District.
The Gateway building closest to the Emirates Towers will be the future DIFC headquarters, encased entirely in crystal glass, thus portraying complete transparency, which together with integrity and simplicity forms the foundation of the DIFC offering.
These iconic structures will be complimented by a grand twin tower complex of up to 50 stories, similar to the Emirates Towers, but with its own unique architectural identity. The towers will be situated on a podium that will house commercial, recreational and parking facilities, connected by an overhead sky-link to the Emirates Towers.
According to DIFC, the entire Financial District will be developed in phases as set out in the integrated master plan for the development. The majority of the towers will be for office use, with commercial and recreational areas on the lower levels. Some of these buildings may be designated for residential or mixed-use development.
The first phase of site development will commence later this year. It will concentrate the area closest to Emirates Towers, including the DIFC Headquarters building and the Twin Towers development.