Dubai International Financial Centre (DIFC) has completed and begun the phased handover of its new commercial development, DIFC Square, earlier than scheduled, as demand for office space in the financial hub continues to grow.
The project was fully pre-leased before handover, reflecting strong demand from global financial and professional services firms operating in the centre.
Office demand
According to DIFC, several existing companies are relocating or expanding within the district by securing additional space in DIFC Square. These include Bank of Singapore, Deutsche Bank, Gallagher Insurance, Herbert Smith Freehills Kramer, Moody’s and TP ICAP.
Tenants that have received their offices have started fit-out works. DIFC said the relocation of existing tenants to DIFC Square will free up about 100,000 sq. ft. of office capacity in the district’s Gate District and Gate Village areas.
Project details
Developed by DIFC Developments within a 24-month design and construction period, DIFC Square provides around 600,000 sq. ft. of office space. The development consists of three interconnected buildings with glass façades, along with parking facilities and retail units.
Several food and beverage outlets are also expected to open at the site, including Duck & Rice, Saddle, Hudson & Rye, Liban and Cakes & Bubbles.
Saleh Al Akrabi, Chief Real Estate Officer at DIFC Investments, said: “We are pleased to announce the completion of DIFC Square ahead of schedule, underpinning our commitment to providing world class infrastructure that enables businesses to scale and thrive. The exceptional demand from new international firms and the sustained expansions of our registered companies is a strong endorsement of the resilience and attractiveness of our ecosystem. Financial centres of the future focus on innovation, being sustainable, digitally inclusive and customer centric. At DIFC, we are ensuring that all our real estate projects align with this vision, while playing a critical role in ensuring the quality of life that attracts and retains global talent in Dubai as a top four global financial centre.”
Expansion plans
DIFC Square is part of DIFC’s wider plan to deliver about 1.6 million sq. ft. of commercial space between 2026 and 2027. Upcoming projects include DIFC Living, Innovation Two and Immersive Tower, aimed at supporting growth across financial services, innovation and professional services sectors.
DIFC Square has been built to standards set by the US Green Building Council and is expected to receive LEED certification soon, in line with the centre’s focus on sustainable infrastructure.
tanvir@dubainewsweek.com
