Sheikh Mohammed bin Rashid Al Maktoum, the Vice President and Prime Minister of the United Arab Emirates (UAE) and the Ruler of Dubai, has already launched the plans for the $1.36 billion Emirates Towers Business Park venture, which is a joint initiative by DIFC and Dubai Holding.
The project has been master-planned by Dubai Holding and is located between the Happiness Street and Sheikh Zayed Road near the Dubai International Financial Centre (DIFC) as per reports. Once completed, the Emirates Tower Business Park will transform into an integrated and fully operational business district in the very heart of the Financial District in Dubai and will offer a legislative milieu with global transparency and governance standards as per the regulations of the DIFC Authority.
The development is a result of the mutual collaboration between the DIFC and Dubai Holding due to the growing demand from global corporations looking to start operations in the flourishing business environment in Dubai. Reports also state that the Emirates Towers Business Park will be able to meet growing demand for Grade-A office spaces through low-rise and high-rise office towers that cater to a wider range of requirements. The development will also encompass three 5-star hotels and the Jumeirah Group will be managing one. The other two will be managed by other global hospitality groups as per reports.
There will also be retail space with several global brands and other F&B (food and beverage) options available. There will also be a dedicated zone for events along with ancillary facilities for helping corporates. There will be public parks and other green spaces along with two covered bridges for pedestrians that will link directly to the DIFC. There will be 13, 000 new parking spaces provided by the Emirates Towers Business Park as well.
According to the Chairman at Dubai Holding, Abdulla Al Habbai, this new venture is a reflection of the ambitious vision of the UAE’s leadership and is in sync with Dubai’s blueprint of coming up with futuristic projects for meeting increasing demand for quality integrated business districts along with highly advanced legal infrastructure adherent to global standards of transparency and governance. The governor of the Dubai International Financial Centre, Essa Kazim, stated that the DIFC will continue delivering on its ambitious strategy of backing Dubai’s growth strategy and also the ongoing economic growth of the UAE.
According to him, the collaboration with Dubai Holding is an ideal example of this strategy and by extending the jurisdiction of DIFC, member companies of the Emirates Business Park will profit from the effective regulatory and legal framework of the Centre along with world-class infrastructure that will support overall business growth all throughout the MEASA region.
