Dubai International Financial Centre (DIFC) authorities announced the launch of a new landmark infrastructure facility in the area — it will be a cross-link between a commercial, residential and business parts of the free zone.
Speaking on the unveiling of Gate Avenue at DIFC, Essa Kazim, Governor, DIFC, said: “The announcement of Gate Avenue at DIFC is a significant step towards accomplishing our 2024 growth strategy that paves the way for the sustained development of the Centre.
“The project will be a significant value-add for professionals and residents currently working and living in the district, and create an even more attractive proposition for prospective clients and tenants, as we build on our already world-class infrastructure platform. This, in turn will elevate DIFC’s status as one of the most sought-after destinations in the world.”
Gate Avenue will be divided into three zones — North, Central and South, each of them having its own features. In total, the complex will have 150 most sophisticated shops, outlets, restaurants and cultural experiences in the area of over 600,000 square feet. It will host various cultural events, including musical performances, exhibitions of contemporary art, design installations, etc.
Central 1 km long Promenade will add to the existing Marble Walk, while the Central Zone will have a direct access to the Financial Centre Metro Station.
It should be noted also that Gate Avenue is a project DIFC’s authorities intend to promote the area with among tourists. As imexre.com already mentioned, in order to attract thousands of visitors to DIFC, its management had plans, already back in 2015, to connect all main buildings of the complex with a single passage, so that people could move freely between outlets and relax at the open terraces next to them. Gate Avenue is a real materialization of these plans. There was also an idea to make all retail units and restaurants in the area working all night long to fit all the visitors’ requirements and turn the precinct into a round-the-clock destination.
Currently, about 5000 people live in the DIFC free zone. Last year a new residential development Central Park with 426 apartments was handed over in the area, but still the neighborhood is mostly a business-focused zone. About 1,200 companies employing 18,000 people are registered in DIFC. It is expected that this number will triple by 2024.