The $27.2bn DIFC expansion will drive demand for Dubai offices, luxury homes and investment as global firms eye regional hubs.
The launch of the expansion of the AED100bn ($27.2bn) Dubai International Financial Centre (DIFC) marks a major milestone for Dubai’s real estate market and reinforces the emirate’s ambition to strengthen its position as a global hub for business, financial services and investment, according to a report by W Capital Real Estate Brokerage.
The report said the project represents more than an urban expansion, describing it as a comprehensive economic step with direct and indirect impacts across the real estate sector, including stronger investment demand, growth in commercial and residential developments and the attraction of international companies establishing regional or global headquarters in Dubai.
Walid Al Zarooni, CEO of W Capital Real Estate Brokerage, said: “The expansion of the Dubai International Financial Centre (DIFC) will contribute to increased demand for high-quality office space and sophisticated retail areas, as well as boosting interest in luxury residential units near the Centre, driven by the growing number of executives, employees, and experts working in financial institutions and multinational corporations.”
