Dubai Financial Market (DFM) is set to move its headquarters to Dubai’s Business Bay locality.
In a bourse filing, Emirates Securities and Commodities Authority CEO Obaid Saif Al Zaabi revealed DFM had received a plot of land in the Business Bay to construct its new headquarters.
The plot, which DFM has received from Dubai Holding subsidiary Dubai Properties, spans 10,232sqm, and has a market value of $62.8m (AED231m).
DFM’s current headquarters office is situated in the city’s World Trade Centre building.
According to Arabian Business, DFM will now seek tenders for the new building from designers and architects, and that it is to be completed within three to four years.
The planned move is “in line with the market development vision”, the statement added.
DFM chairman Essa Kazim reportedly told The National: “It is a very good site, looking over Sheikh Zayed Road by the entry to Business Bay.
“It will be a custom-made building that can accommodate our own and the brokers’ requirements, and will have a significant data-recovery capability.”
