Dubai International Financial Centre (DIFC), the leading global financial centre in the Middle East, Africa and South Asia (MEASA) is now blending aspects of life and work with the launch of DIFC Living and Innovation Two which will include more than 170 residential units.
The financial hub is currently home to more than 600 growth-stage growth-stage tech firms, including established innovation companies, digital labs, venture capital firms and educational institutions.
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 of 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.
On Wednesday, Essa Kazim, Governor of DIFC, attended 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.
“To continue our mission of fostering innovation, we must provide world-class, future-proof facilities that enable companies, organisations and individuals to thrive, prosper and enjoy an environment they can both live and work in. For the first time, DIFC is creating a mixed-use space that includes residential units, co-working and office spaces, retail and dining,” said Kazim.
“Our latest development is a response to the ever-evolving nature of workspaces and lifestyle choices. We are delivering a vibrant new lifestyle hub, where everyone can enjoy the best of urban living, combined with a high-quality environment featuring everything required to prosper.”
“DIFC has always been at the forefront of fintech and innovation in the region, which has helped attract over 600 associated businesses to the centre. We continue to expand to meet demand, and the new Innovation Hub will result in DIFC becoming one of the world’s largest ecosystem dedicated to fintech and innovation. The mixed-use expansion, which incorporates the DIFC Living residences, will enable us to enhance our proposition as a leading lifestyle destination as well as a global financial centre,” said CEO Arif Amiri.
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