Built to inform

Sign up for the daily newsletters

No, Thank you

Final building in DIFC's gate village to complete by 2018

The $49m (AED180m) Gate 11 building, the final building within Dubai International Financial District’s (DIFC) Gate Village office district, will be completed by Q1 2018

Dubai International Financial District (DIFC)
Dubai International Financial District (DIFC)

The $49m (AED180m) Gate 11 building, the final building within Dubai International Financial District’s (DIFC) Gate Village, will be completed by Q1 2018.

Structural works for the projects are almost complete and occupancy is said to be looking “promising” with more than 50% already leased, according to Nabil AlKindi, DIFC’s Chief Real Estate Officer, DIFC.

The nine-storey building will provide additional office space to the district, which has reported a more than 99% occupancy rate this year.

READ: HLG to begin work on $13m road infrastructure upgrade in DIFC

“In terms of occupancy, we are doing very well, we are more than 99% occupied and our rental rates are good,” he said.

Around 20% of DIFC’s gross floor area (GFA) has yet to be developed with an additional $2m (AED7.5m) to be invested in construction over the next seven years.

DIFC’s master plan is scheduled to be finalised by 2024 and is currently on track with more project announcements planned in the coming year.

 

 

 

Most popular

Awards

Dubai's JW Marriott Marquis Hotel to host CW Awards 2019
15th edition of the CW Awards will be held at the five-star Dubai hotel to

Conferences

Leaders UAE 2019: ALEC, CSCEC ME, Arada bosses on diversification
EXCLUSIVE: Kez Taylor, Sachin Kerur, Elie Mrad, and Grigoris Christofides share insights at Leaders UAE

Latest Issue

Construction Week - Issue 749
Sep 15, 2019