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His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has launched the expansion of Dubai International Financial Centre (DIFC) aimed at consolidating its position as the leading global financial centre in the Middle East, Africa and South Asia (MEASA).
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai
DIFC Zabeel District represents the largest demand-led expansion of a financial centre in the region, encompassing a site area of 7.1 million sq. ft and total gross floor area of 17.7 million sq. ft. The estimated gross development value exceeds AED 100 billion (USD 27.2 billion).
The expansion will enable Dubai's financial centre to scale its footprint to accommodate more than 42,000 companies and a workforce exceeding 125,000.
His Excellency Essa Kazim, Governor, DIFC
His Excellency Essa Kazim, Governor, DIFC, said:
“This expansion will redefine the financial industry in the MEASA region, and fast-track DIFC's contribution to Dubai's economic growth. DIFC Zabeel District will create unparalleled opportunities and firmly entrench Dubai's position as a global financial leader and as a launchpad for the future of finance,”
DIFC is the region's only financial centre operating at scale across all business sectors. The DIFC Zabeel District expansion has over 1 million sq. ft allocated to what is described as the world's largest innovation hub and the world's first purpose-built AI campus designed to meet the future needs of over 6,000 businesses and 30,000 tech specialists.
DIFC will be positioned as the UAE's leading global destination for further and higher education. The DIFC Academy will grow 10-fold to 370,000 sq. ft with capacity for 50,000 learners annually.
The expansion will also feature a first-of-its-kind art pavilion aimed at deepening DIFC's standing as Dubai's home to art and culture.
Consisting of six phases, DIFC Zabeel District is expected to welcome the public in 2030 with the masterplan expected to be complete in 2040.
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