DIFC breaks ground on $300mn commercial tower

DIFC breaks ground on $300mn commercial tower

Named Immersive Tower, the project has a total built up area of over 115,000 square metres and is located adjacent to Daman Tower and ICD Brookfield Place and is scheduled for completion in April 2027.

Dubai International Financial Centre (DIFC) broke ground on Wednesday on a new $299.50 million (AED1.1 billion) commercial tower in the district.

It consists of 37 storeys, which include 58,573m2 dedicated to office space, around 10,596m2 of retail space, and over 680m2 for amenities; tenants will also have access to a Members’ Club, located across the 26th, 27th, and 28th floors. Office sizes range from 60m2 to 158m2.

Immersive Tower has been designed by AEDAS and is being developed by DAR Group.

According to a recent report by JLL, 156,000m2. of gross leasable area is expected to enter the UAE’s office real estate sector in 2024 as businesses demand quality space, while an additional 160,000m2 of retail space is expected to enter Dubai’s real estate market.

“With the ever-growing number of regional and international financial institutions, fintech and innovation firms establishing in DIFC, we recognise the requirement for Grade A office space catering to workplaces of the future,” said Essa Kazim, Governor of DIFC.

“The Immersive Tower by DIFC, seamlessly brings together