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DIFC’s $49m finance hub The Exchange completed

Dubai International Financial Centre has completed its eight-storey development called The Exchange

The Exchange is a mixed-use office and retail building in DIFCs Gate Village.
The Exchange is a mixed-use office and retail building in DIFCs Gate Village.

Dubai International Financial Centre (DIFC) has confirmed its eight-storey, mixed-use financial services hub, The Exchange, is complete.

The 13,656m² building boasts a top-of-the-range press conference centre, five basement levels, office and retail space. 

Valued at $49m (AED180m), it also has a landscaped piazza called the Exchange Square, which features three high-end restaurants, one of which houses a rooftop dining area. It is located in DIFC’s Gate Village. 

READ: DIFC launches division for construction and tech disputes

More than three quarters (77%) of the 13,656m² building has been set aside for office space, with the financial heavyweight Nasdaq Dubai the first tenant in the new building. Around 22% of the space has been made available for retail.

So far, 84% of the building has been leased. Nasdaq Dubai, a long-term tenant of DIFC, grew its presence by moving from DIFC Precinct Building 5 to the eighth floor of newly-built development The Exchange.

The main contractor for the project was Khansaheb Civil Engineering, which completed the concrete skeleton of the project in July 2017.

CEO of DIFC Authority, Arif Amiri, said: “Today’s unveiling of The Exchange reflects the impressive pace DIFC has maintained towards achieving our 2024 Strategy, which sets out ambitious targets for the centre to triple in size by 2024.

“Development of buildings like The Exchange enables us to attract major players in the financial services industry as we meet their current demands and address future occupier trends. We are confident that The Exchange will enrich the professional and lifestyle experiences of DIFC’s workforce and visitors alike.”

In 2015, DIFC, which claims to be a leading financial hub in the Middle East and Africa, launched a ten-year blueprint for growth called 2024 Strategy. This aimed to boost trade and investment between the Middle East, Africa, Southeast Asia, and South America.

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Construction Week - Issue 749
Sep 15, 2019