JobXDubai

The Dubai International Financial Centre (DIFC) has marked a significant milestone with the ground-breaking ceremony of the Immersive Tower, a 37-story mixed-use tower set to revolutionize the workplace of the future.

The AED 1.1bn ($299.4m) commercial tower, with a total built-up area of 115,000sq m, is strategically located within DIFC, adjacent to Daman Tower, overlooking the ICD Brookfield tower. This iconic development embodies the Centre’s vision to increase the supply of prime office space, catering to the evolving needs of businesses establishing and expanding within its thriving ecosystem.

High Demand for Commercial Space in DIFC

2023 witnessed high demand for commercial space in DIFC, with owned, managed, and third-party commercial properties combined, closing out the year with 92 per cent occupancy.

A World-Class Offering for Businesses

Essa Kazim, Governor, DIFC, emphasized, “With the ever-growing number of regional and international financial institutions, FinTech, and innovation firms establishing in DIFC, we recognize the requirement for Grade A office space catering to workplaces of the future. The Immersive Tower seamlessly brings together commercial, amenity, and retail spaces, delivering a world-class offering to businesses seeking innovative mixed-use environments in the heart of Dubai’s financial district.”

State-of-the-Art Features and Amenities

Conceptualized by AEDAS and developed by DAR Group, the Immersive Tower will meet the needs of the modern workforce, encompassing 58,573sq m of office space, approximately 10,596sq m of retail space, and over 680sq m of amenities. Tenants will have access to a Members’ Club, located across the 26th, 27th, and 28th floors.

Scheduled for completion in April 2027, the new commercial property represents a seamless fusion of work, leisure, and luxury, designed to suit the needs of the workplace of the future.

DIFC’s Ambitious 2030 Strategy

As DIFC continues to strengthen its position as a global financial hub for business and innovation under its ambitious 2030 Strategy, the new commercial tower will support the needs of the growing number of companies setting up a base in Dubai.

Strong Demand for Residential Property

The first residential project by DIFC to open for sale in 2023, DIFC Living, fully sold out within 48 hours, further demonstrating the strong demand for residential property in the heart of DIFC.

Sustainability in Focus

Earlier this year, 15 DIFC buildings were awarded Platinum and Gold LEED certification, including The Gate, one of Dubai’s most iconic buildings, which was awarded Platinum certification.

Outlook for 2024

According to JLL’s UAE Real Estate Market – A Year in Review 2023, 156,000sq m of gross leasable area is expected to enter the country’s office sector in 2024 as businesses demand quality space, while an additional 160,000sq m of retail space is anticipated to enter Dubai alone.

Stay ahead of the curve in Dubai’s thriving financial district with the latest updates on the Immersive Tower and DIFC’s ambitions for the future.