A monumental day today.
The first big news was the signing of the FTA between India and the EU – what is called the Mother of all Trade Deals, and by the looks of it, justifiably so. The collaboration between the two largest markets with over half of the world population directly or indirectly benefited, is an achievement given the current trend of “going it alone”. Exciting times lie ahead for producers, consumers and travelers!
The second is the announcement of DIFC Zabeel District – I leave the numbers to speak for themselves –
DIFC Zabeel District will advance a new era of global finance by expanding infrastructure, connectivity and capacity to meet evolving industry demands. This strategic expansion will enable DIFC to accommodate more than 42,000 companies and a workforce of over 125,000, accelerating our contribution towards the Dubai Economic Agenda (D33).
With a gross development value exceeding AED 100bn, the project will expand our footprint by 7.1mn sq. ft., adding a total gross floor area of 17.7mn sq. ft.
The new district dedicates 1mn sq. ft. to future technologies. This includes the world’s largest innovation hub and world’s first purpose-built AI Campus – a space designed to host 6,000 AI, FinTech and innovation businesses, and support a 30,000-strong tech workforce. A10-fold expansion of the DIFC Academy will accommodate 50,000 learners annually, positioning DIFC as the UAE’s leading hub for further and higher education.
The expansion will also feature a first-of-its-kind art pavilion, deepening DIFC’s standing as Dubai’s home to art and culture. Specific sites will be designed for landmark pieces of art and architecture.
The DIFC Zabeel District will offer a mix of spaces including commercial premises and at least 4,000 residential properties anchored from a central boulevard, a conference centre, hotels, upscale retail offerings, and cutting-edge technology infrastructure. The community’s uniquely curated open spaces and parks will be filled with abundant levels of greenery and thriving biodiversity, underpinning healthier working, living and social connections. The design philosophy of the expansion revolves around fostering connectivity and easily accessible integrated living. Connected to the existing DIFC Gate District by a signature bridge, the new expansion will form a seamless continuation of DIFC’s institutional and urban fabric.
Having set up a home-grown consultancy in the DIFC, and having been associated with it from near inception, this is a particularly proud moment for me – to see the DIFC grow not just in size, but in stature, in ambition, in vision, and in execution.
I cannot wait to explore what is possible in the coming months and years to come – and even more excited as to what we can do in our own small ways to contribute our efforts to make the DIFC become one of the top 4 financial centers in the world.
More on this in due course!