Arif Amiri (Chief Executive Officer of DIFC Authority), said that the Dubai International Financial Centre (DIFC) has emerged as the region’s leading financial hub and a business and lifestyle destination over the past few years. This centre is in the process of developing additional infrastructure which will add capacity on both front.
An announcement of a major additional infrastructure (with the launch of Gate Avenue) was made by DIFC April last year.
The first phase is set to be completed by the end of 2017 and this much anticipated project will offer over 200 dining, cultural and entertainment options, iconic mosque as well as boutique. It will be across 660,000 square feet with an expanded span of 880 meters in total length.
So far, the centre has allocated a total investment of more Dh1 billion towards ongoing infrastructure development. While the Gate Avenue at DIFC has an investment outlay of Dh800 million, the Gate Village 11 project is being developed with a total investment of Dh200 million.
“Operationally, 2016 was an exceptionally good year for us. Financially, we have been doing well in recent years and we are funding the new infrastructure developments fully from our internal resources,” said Amiri.
The additional enhancements to infrastructure made in 2016, include measures to make the DIFC an energy saving financial centre by 2022.