Dubai International Financial Centre Breaks Ground for Construction of Gate Village Building 11

•    Invests AED205 Million in New Office Building
•    PremisesSet for Completion in Q22017

Dubai-UAE: 4 July, 2015 -Dubai International Financial Centre (DIFC) has broken groundfor the construction of its 11thoffice building in the iconic Gate District. Gate Village Building 11 will take shape on plot GV02 adjacent toGate Village GV01, which has a presence on the boulevard facing Jumeirah Emirates Towers.
Built at a total investment of AED205 million, Gate Building 11 is scheduled for completion by Q2 2017. Across a total built-up area of 200,000 sqft,the premises will offer 160,000sqft (82%)of office space andnearly 40,000 sqft (18%) for retail and F&B outlets.

His Excellency, Essa Kazim, Governor, DubaiInternational Financial Centre, said: “DIFC is proud to mark yet another milestone today as we break ground on this new premises.Our sustained growth and the back-to-back opening of office spaces that boast the most advanced facilities reaffirms our commitment to supporting our clients through growingthe Centre and stepping up its contribution to the growth of the financial sector in Dubai and the wider UAE. With all our buildings at the DIFC Gate District fully occupied at present, the new development will ensure that we continue to meet the demand for best-in-class office spaces in the financial district in the next exciting phase of growth.”

Upon completion, Gate Village Building 11 will feature six floors of offices with high quality finishes and fit-outs, as well as an entire floor dedicated to state-of-the-art business centres equipped with advancedoffice facilitiesand secretarial services. Parking for 362vehicles will be provided within three subterranean levels and two podium floors.

In addition, the new building will featureretailand F&B offerings on the podium level fronting onto a landscaped piazza connecting with the Gate Village podium andexciting outdoor  terrace areas. Accessible via a panoramic elevator a rooftop destination F&B restaurantis also provided, giving experiential views from both within and from rooftop terrace spaces. These additional F&B experiences will further add to the already establishedappeal of DIFC’s successful array of destination restaurants.

Essa Kazim said: “We have initiated a new wave of developments at the financial hub in line with the DIFC Masterplan that was announced earlier this month as part of our 2024 strategy to triple our growth. The development of the Gate Building 11 will put us in prime position to leveragenew opportunities and accelerate our future growth.”