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

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 745
Jun 30, 2019