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Tue 11 May 2004 04:00 AM

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Landmark building planned in DIFC

Dubai International Financial Centre (DIFC) and Nexus Capital SA are to jointly develop a showcase complex in the financial free zone.

The Dubai International Financial Centre (DIFC) and Nexus Capital SA are to jointly develop a $260 million mixed use real estate complex called The Hexagon. According to DIFC, the joint venture project is aimed at attracting foreign direct investment into the DIFC.

The 1.4 million square foot complex will feature smart offices, residential spaces, a five star boutique hotel, a rooftop garden and a private business club. Another feature will be an educational campus that will be targeted at business schools and executive education providers.

In terms of design, the complex will feature four hexagonal buildings, whose main tower will be more than 50 stories high.

“HH Sheikh Mohammed’s vision for the DIFC is to create a truly world class financial centre to rival those of London, New York and Hong Kong. The Hexagon epitomises this vision,” said Naser Nabulsi, CEO of DIFC.

“The Hexagon will pass the advantages of the DIFC jurisdiction onto our future tenants and investors,” added Damien Tappy, chairman of Nexus Capital SA.

"These advantages include: 100% foreign ownership, 0% tax, freehold of properties, a world class framework of financial and commercial laws and the freedom to repatriate capital and profits. The Hexagon will truly be a pivotal project in this landmark and visionary new financial district.”

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