742,000 square feet of Grade A office space is released in the heart of Dubai's Central Business District
Dubai World Trade Centre’s One Central has completed the last phase of its commercial and retail development with the delivery of The Offices 4 and 5 ahead of schedule.
With this release of 742,000 square feet of Grade A office space in the heart of Dubai’s Central Business District, the commercial and retail component is now complete and brings the total completed commercial and retail space in One Central to 1.72 million square feet, alongside 4,380 parking spaces.
One Central offers an interconnected space, integrating offices, retail, residences, hotels, and a wide variety of F&B offerings to DWTC’s mega-events venue.
DWTC said the rapid pace of development of Dubai’s newest free zone business district reaffirmed its role as a destination developer and is set to further draw international businesses to set up base in Dubai.
It added that One Central’s business occupants also benefit from DWTC Authority’s free zone competitive setup costs, with a reduction in registration fees by 50-70 percent announced earlier this year, and a 40-50 percent reduction in immigration fees depending on the scale of business operation.
Coupled with the 588-room Ibis One Central Hotel, and The Offices 1, 2 and 3 which were completed in the last three years, One Central is already home to a variety of blue-chip tenants from the fields of oil and gas, finance, insurance, tourism, and management consulting.
The next phase of the development is AccorHotels’ 25hours Hotel Dubai One Central, scheduled to be completed by June 2020.
The hotel will be making its regional debut of the German hospitality brand outside of Europe, and will be the largest of the brand in the world with 434 rooms.
Gurjit Singh, senior vice president - real estate at DWTC said: “Through place making and place management, we have created a new top-of-mind vibrant urban destination with One Central, one that offers a competitive advantage with excellent locational connectivity.
"It is designed to address the evolving needs of the business occupier, multinational corporations and the evolving needs of the business traveller, and is gaining significant interest from global and local companies.”