DIFC breaks ground on Gate Village Building 11
With an investment of $55.81m from Dubai International Financial Centre (DIFC), the Gate's 11th office building is scheduled to complete in Q2 2017
Dubai International Financial Centre (DIFC) has broken ground on Gate Village Building 11.
With an investment of $55.81m (AED205m) from DIFC, the Gate's 11th office building is scheduled to complete during the second quarter of 2017.
Gate Village Building 11 boasts a total built-up area of 18,580m2 and will be located on plot GV02, which faces Jumeirah Emirates Towers.
Commenting on the ground breaking, HE Essa Kazim, governor of DIFC, said: "DIFC is proud to mark yet another milestone today as we break ground on this new premises.
"Our sustained growth and the back-to-back opening of office spaces that boast the most advanced facilities reaffirms our commitment to supporting our clients through growing the centre and stepping up its contribution to the growth of the financial sector in Dubai and the wider UAE.
"With all our buildings at the DIFC Gate District fully occupied at present, the new development will ensure that we continue to meet the demand for best-in-class office spaces in the financial district in the next exciting phase of growth," he said.
Upon completion, Gate Village Building 11 will feature six floors of offices and a floor dedicated to business centres. Parking for 362 vehicles will be provided within three subterranean levels and two podium floors.
Kazim contends that the latest office building represents a significant milestone in the development of the DIFC Gate District.
He added: "We have initiated a new wave of developments at the financial hub in line with the DIFC Masterplan that was announced earlier this month as part of our 2024 strategy to triple our growth.
"The development of the Gate Building 11 will put us in prime position to leverage new opportunities and accelerate our future growth."