FINANCIAL NEWS

Dubai International Financial Centre signs USD54.43m expansion contract

19 Mar 2015

(MENAFN) Dubai International Financial Centre (DIFC) has finalized a USD54.43 million expansion plan which includes a commercial building and more than 150 retail units, DIFC officials said, Gulf News reported.

The project includes a commercial tower and new retail space, will go to tender in August and is expected to be completed by 2017. The new commercial building, Building 11 will located in Gate Village.

The new retail development will link all the major DIFC buildings, providing space for retail units. Both projects will be built using cash already available on DIFC’s books.

“We don’t need to raise new funding for these two projects. It will be completed with cash available with us,” the Governor of the DIFC and Chairman of the DIFC Authority said in a statement.

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