Dubai International Financial Centre Unveils Updated Master Plan at Cityscape GlobalPress Release 09 Oct 2013 09:25 am
The world-class financial hub offers real estate development opportunities in the master plan through investment in joint ventures.
Dubai International Financial Centre (DIFC), the financial and business hub connecting the region’s emerging markets with the markets of Europe, Asia and the Americas, presents its master plan at Cityscape Global. The new developments will add to DIFC’s world-class infrastructure and unique value proposition to meet the growing needs of regional and international clients.
The latest plan is in line with DIFC’s long-term growth strategy and reflects the growing demand for space, from both existing and potential clients, who wish to expand their operations in the Centre. DIFC is now evaluating development proposals for a limited amount of plots, with a view to joint venturing with qualified developer and investor groups, to build and form mutually beneficial long-term partnerships.
DIFC is now positioned to realise its vision towards establishing a distinctive master planned community. The North district will continue to thrive as the office zone, the Town Centre will be the mixed-use, retail and entertainment destination, and the southern section will flourish as a residential and lifestyle zone. The three zones will be connected through a carefully planned retail promenade, offering seamless connectivity and walkability throughout the development.
His Excellency Abdullah Mohammed Saleh, Governor of DIFC, said, “Since our inception back in 2004, DIFC has established itself as the pre-eminent location in which to build upon financial and business partnerships in the Middle East, Africa and South East Asia region.
"We are now taking our platform to the next level of development by expanding our offering, thereby enhancing the UAE’s key value proposition as a dynamic hub for business. We look forward to welcoming new members to our rapidly growing community and further cementing both Dubai and the UAE's position on the global financial stage.”
Brett Schafer, CEO of DIFC Properties said, “Over the last decade, DIFC has pioneered the financial free zone concept in the Middle East, successfully serving our client base and paving the way for meaningful expansion. As we enter into the next ten years, the DIFC master plan will continue its development as a world-class community. The completion of our master plan will create a fully-integrated district, further enhancing it among the ranks of the world’s most prestigious addresses.”
“We are proud to announce the next chapter of the DIFC story and invite qualified development and investment partners to be an integral part of completing the DIFC vision into a reality, through mutually-beneficial investment.”
Work on the next phase of the development is expected to commence in early 2014.