DIFC proposes AED500 million for infrastructure in 2016

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Dubai International Financial Centre (DIFC) will purportedly capitalize AED500 million into the expansion of new infrastructure this year 2016.

DIFC proposes AED500 million for infrastructure in 2016

DIFC proposes AED500 million for infrastructure in 2016

AED150 million will be allotted for the improvement of Gate Village 11.

Moreover, AED300 million -350 million will be disbursed to the DIFC Spine project, which is intended to connect all expansions within the centre.

The under construction developments of DIFC encompass the Gate Building 11 with project value of AED205 million, which the groundbreaking was commenced in 2015.

The 1.85ha construction will consist of DIFC’s fifth business centre, office space, and retail shops which is set to be completed by the end of 2017.

All these projects will be financed from the organizations accumulated cash reserves.  A report also divulged that DIFC has no campaigns to raise finances in the near future.

Mohamed Dekkak

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