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Sheikh Mohammed bin Rashid approves DIFC expansion plan

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The Dubai International Financial Centre (DIFC) is the major finance centre in the Middle East, hosting international banks, insurance companies and investment firms.

Tuesday 08, January 2019 BY KUDAKWASHE MUZORIWA

HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai has approved a plan to increase the area of the DIFC, according to local newswire, WAM.

The development of DIFC 2.0 will commence immediately and will be completed in several stages.

In a statement, the DIFC stated that upon completion, the new district will comprise 6.4 million square feet of office space, 2.6 million square feet of creative space as well as 1.5 million square feet of residences, 1.3 million square feet of retail space and 700 thousand square feet devoted to leisure and entertainment.

HH Sheikh Mohammed said that the financial sector remains one of the cornerstones of Dubai’s economy and the Government is keen that the development of infrastructure is matched by the development of legislation.

TAGS : DIFC, Sheikh Mohammed bin Rashid Al Maktoum

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