DIFC expands innovation hub
DUBAI: Dubai International Financial Centre (DIFC), the leading global financial centre in the Middle East, Africa and South Asia (MEASA) region, is continuing its journey of driving the future of finance, enabling the economies of the future, and blending the best aspects of life and work by marking the ground-breaking of DIFC Living and Innovation Two.
DIFC Living and Innovation Two will become a major part of phase three of DIFC’S Innovation Hub, the region’s largest innovation community, currently home to more than 600 growth-stage tech firms, including established innovation companies, digital labs, venture capital firms and educational institutions. The Hub is generating new economic value by fostering innovation, enterprise and talent across various sectors, focusing on future-oriented industries.
Sheikh Maktoum Bin Mohammed Bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance of the UAE and President of DIFC, announced the original expansion to the Innovation Hub in May 2021, quadrupling its size from 80,000 square feet to 315,000 square feet. This expansion is due for completion at the end of next year, reflecting the rapid pace of growth DIFC is experiencing.
Today, Essa Kazim, Governor of DIFC, atended a ceremony to break ground on phase three of the DIFC Innovation Hub. The project includes 184,000 square feet of offices and co-working spaces and a further gross floor area of 107,000 square feet earmarked for retail use. The new phase will also include state-of-the-art conference facilities.
DIFC Living and Innovation Two is a new concept which will feature more than 170 upscale residences embracing the future of living. The residences are expected to be highly sought-ater, reflecting the strong demand DIFC already has for its owned and managed commercial offices. The development will be seamlessly integrated into DIFC, providing occupants with direct internal and external access to Gate Avenue.