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Dubai United Arab Emirates
The Zabeel District – Dubai International Financial Centre (DIFC Zabeel District) project will feature more than 4,000 residential units and, upon completion, will have a workforce of more than 125,000 employees, according to His Excellency Issa Kazim, Governor of the Dubai International Financial Centre. The estimated development value of the project is more than $27.2 billion (100 billion dirhams).
During the session, the most prestigious financial neighborhood in the world within the Mohammed bin Rashid Leadership Forum, Kazim said that the project will double the capabilities of the Dubai International Financial Centre and accommodate more than 42 thousand companies when completed. It extends over an area of 7.1 million square feet, with a total floor area of 17.7 million square feet.
He added that the region will provide an environment capable of attracting more than 6,000 technology companies and 30,000 technology professionals. It will also feature more than one million square feet dedicated to the largest innovation hub and complex designed to enable the world’s artificial intelligence sector, the statement said.
The DIFC Academy will expand tenfold to an area of 370 thousand square feet, with a capacity of up to 50 thousand learners per year. Kazem said these investments are aimed at developing infrastructure in parallel with building human capital.
Mobility options in the region include the Green Loop and Dubai Loop projects, along with the infrastructure of the suspended transport system and air taxi networks. About 20% of the project will be dedicated to open spaces and public utilities.
The project is being implemented in six phases, with the first phase to be completed in 2030 and the master plan to be completed by 2040.
Kazim pointed out that the launch of the Dubai International Financial Centre in 2002 reflected a vision that preceded its era, explaining that the center recorded about 1,200 companies by 2014, and contributed to the creation of more than 17,000 jobs. In the same year, the Centre launched its ten-year strategy, achieving all its targets three years ahead of schedule, with the expansion of financial technology, innovation and private and family wealth management.
He added that the center supports Dubai’s ability to serve an economic zone worth more than $ 12 trillion, and that the Zabeel District project represents a long-term investment in the future of the emirate, by combining infrastructure, the financial and legal system, work requirements, education, investment and quality of life.
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