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Sat 17 Mar 2018 12:35 PM

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DIFC says work completed on new $49m Exchange project

New development is 84% leased with Nasdaq Dubai moving from DIFC Precinct Building 5 to the eighth floor

DIFC says work completed on new $49m Exchange project

Dubai International Financial Centre announced on Saturday the completion of The Exchange building, which offers an extra 114,000 sq ft of office space and 33,000 sq ft of retail.

The AED180 million ($49 million) building comprises 5 basement levels, bespoke modern and efficient office space, and a new conference centre for hosting events and knowledge sharing engaging sessions.

The development also includes The Exchange Square, a landscaped piazza, serving as an extension of the existing Gate Village podium, and three licenced restaurants, including a rooftop restaurant.

Eighty-four percent of the building has been leased and the first occupant of the new development is Nasdaq Dubai, which is expanding their presence and moving from DIFC Precinct Building 5 to the eighth floor of the new development.

Arif Amiri, CEO of DIFC Authority, 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."

Khansaheb Civil Engineering was appointed as the main contractor for the project in July 2016. The concrete skeleton of the development was completed in July 2017.

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