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Abu Dhabi, UAESaturday 22 September 2018

New Dh5 billion business district launched near Emirates Towers in Dubai

Mixed-use project including three hotels

A rendering of the Emirates Towers Business Park, Dubai’s new Dh5 billion business district project, announced on Tuesday
A rendering of the Emirates Towers Business Park, Dubai’s new Dh5 billion business district project, announced on Tuesday

A new Dh5 billion business district is set to be built on a site close to Emirates Towers and the Dubai International Financial Centre (DIFC).

The Emirates Towers Business Park project will contain several Grade A office buildings on a site close to the towers, between Sheikh Zayed Road and Happiness Street, close to DIFC. It will also contain three new hotels, including a Jumeirah Group property, as well as new retail space, F&B units and an arena to hose events, with other facilties for corporate functions. It will also house public parks, green spaces and two, covered pedestrian bridges linking directing into DIFC. A three-level basement underneath the site will house 13,000 parking spaces. Work is due to start on the project by the end of this year, with completion due within four years.

The project will be developed by Dubai Holding in conjunction with DIFC, according to a statement released by the Government of Dubai’s Media Office.

It said that companies setting up within the park would benefit form DIFC’s legal and regulatory framework.

The statement said that the development has been created “in response to increasing demand” from international firms looking for Grade A space for regional headquarters.

Vice President and Prime Minister of the UAE and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum said that real estate projects such as this represent the next phase of strategic development of infrastructure that is needed for the UAE to meet its growth aspirations.

Abdulla Al Habbai, the chairman of Dubai Holding, said: “Emirates Towers Business Park demonstrates Dubai Holding’s commitment to the economic diversification of Dubai and strengthening its attractiveness as a preferred destination for regional and international corporates.”

Essa Kazim, the governor of Dubai International Financial Centre, added: “It is our pleasure to work closely with Dubai Holding on this exciting development, which brings us a step closer towards our stated objective to triple the size of DIFC by 2024.”

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