Built to inform

Sign up for the daily newsletters

No, Thank you

Dubai: DIFC plans $136m for infrastructure in 2016

DIFC's plans to expand its infrastructure include the $40m Gate Village 11 and $81.7m-$95.2m Spine projects

DIFC will spend $136m on its expansion this year.
DIFC will spend $136m on its expansion this year.

Dubai International Financial Centre (DIFC) will reportedly invest $136.1m (AED500m) into the development of new infrastructure this year. 

Of this amount, $40.1m (AED150m) will be allocated for the development of Gate Village 11. 

Furthermore, $81.7m-$95.2m (AED300m-350m) will be spent towards the DIFC Spine project, which is aimed at linking all developments within the hub. 

DIFC's under-construction developments include the Gate Building 11 project, worth $55.9m (AED205m), which broke ground in 2015. 

Due for completion at the end of 2017, the 1.85ha building will include DIFC's fifth business centre, office space, and retail outlets. 

All these projects will be funded from the organisation's accrued cash reserves, and according to Gulf News, DIFC said it has no plans to raise funds in the immediate future. 

 

Most popular

Awards

New category open for consultancies at CW Awards 2019 in Dubai
Sub-Consultancy of the Year to be crowned for the first time at the gala ceremony

Conferences

Leaders UAE 2019: Pinsent Masons confirmed as Gold Sponsor
Law firm is among the major construction industry players confirmed as sponsors for Leaders UAE's
Leaders in Construction UAE Summit returns in Sept 2019
Dubai conference to see top officials discuss the people, trends, and challenges that will power

Latest Issue

Construction Week - Issue 746
Jul 20, 2019