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Mon 11 Jan 2016 02:04 PM

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Dubai World Trade Centre starts work on $196m phase 2 of expansion plan

Phase 2 will include two Grade A office properties of eight and 12 storeys

Dubai World Trade Centre starts work on $196m phase 2 of expansion plan

Dubai World Trade Centre (DWTC) has broken ground on the AED720 million ($196 million) second phase of its Dubai Trade Centre District project immediately after the completion of its first phase.

Al Futtaim Carillion, the main contractor who completed phase one, is also constructing phase two which comprises two Grade A office properties of eight and 12 storeys.

The completion of phase one included an eight-storey office building and a 588-room Ibis hotel.

At the inauguration of phase two, Gurjit Singh, senior vice president – Real Estate, DWTC said: “DWTC is continuing with its market share growth strategy of creating a prime central business district destination, underpinned by a strong conventions and exhibitions business endowed with a Free Zone and freehold status.” 

The commercial office properties in both phases will have a net leasable area of approximately 84,000 square metres, together with approximately 6,400 sq m of net leasable multi format retail space, served by 2,150 parking bays.

Singh added: “Phase one has successfully attracted blue chip commercial tenants to our Grade A, single ownership, large floor plate, office space. This demand is expected to continue in phase two. We are also especially excited with the forthcoming opening of the new 588 room Ibis Hotel at DTCD.”

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