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The investment arm of the Dubai’s government Investment Corporation of Dubai (ICD), together with the Canadian company Brookfield Property Partners will construct a new impressive shopping and office center in Dubai.
54-storey complex is to be built in Dubai International Financial Centre (DIFC), a dynamic and rapidly developing business district of Dubai.
Mohammed Al Shaibani, Executive Director & CEO of the Investment Corporation of Dubai, said: “Today’s ground-breaking marks the establishment of a significant presence for ICD Brookfield within the DIFC. The tower will be a world class development that enriches its surrounding area and significantly adds to the Dubai skyline.”
ICD Brookfield Place developer has no doubts in future success of this initiative, for the demand for Dubai office and retail properties keeps the upward pace, and the office property sector demonstrates the best performance in the industry. Return on investments in the commercial sector of the Dubai’s real estate market reaches 15-20 %.
With this new development designed by Foster + Partners the emirate's office property stock will be supplied with another 900,000 sq.ft of the Grade A office space, while an adjacent five-storey retail center will add another 150,000 sq.ft. of commercial space.
ICD Brookfield Place scheduled for completion in 2018 will have a special form of the facade, shaped to reflect sun light like the faces of the crystal, while top three tower levels will provide fascinating views of the Dubai skyline. Besides, the project is on target to achieve a LEED Gold rating marking its full compliance with the world’s highest environmental and sustainability standards.
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