DIFC aims to lease 90% of its property
Dubai International Financial Centre (DIFC), the emirate’s financial free zone, aims to lease 90% of units at its Dh1 Billion (US$272 million). Gate Avenue retail development before it opens in 2018, to avoid creating a ghost town, the official leading the project said. Gate Avenue is a retail podium linking together the numerous towers of the DIFC complex.
Dubai International Financial Centre (DIFC), the emirate’s financial free zone, aims to lease 90% of units at its Dh1 Billion (US$272 million).
In order to lure the buyers, DIFC is targeting a mix of local and international retailers and food & beverage operators.
Spanning 660,000 square feet (61,316 square meters) of built-up area and 880 meters in length, Gate Avenue will link the podium levels of all buildings in DIFC, from the Gate Building to the Central Park Towers.
On completion, the development will comprise a mix of dining, boutique, retail, and entertainment options, as well as a mosque.
It is part of broader plans to expand DIFC and prepare for more companies to enter the free zone in the years ahead.
February 21, 2019