Dubai AFP

A major global financial hub in the Middle East, Africa, and South Asia, Dubai International Financial Centre (DIFC), has kicked off the Immersive Tower project worth AED 1.1 billion in Dubai's financial district.

The ground-breaking ceremony of the tower was held in the presence of DIFC Governor Essa Kazim and DIFC Authority's Chief Executive Officer Arif Amiri.

The event was also attended by several representatives, including Alya Al Zarouni, Chief Operating Officer, DIFC Authority; Saleh Al Akrabi, Chief Real Estate Officer, DIFC Investments Ltd; and Mohammad Yousuf Al Najjar, Senior Vice President – Development and Projects – Property Development at DIFC Investments Ltd.

The commercial tower has a total built-up area of 115,000 sq. m. and is located within DIFC adjacent to Daman Tower. It overlooks the ICD Brookfield tower. This reflects DIFC's goal of providing better office spaces to support growing businesses.

"With the ever-growing number of regional and international financial institutions, FinTech and innovation firms establishing in DIFC, we recognize the requirement for Grade A office space catering to workplaces of the future," Kazim was quoted as saying by WAM.

"The Immersive Tower by DIFC, seamlessly brings together commercial, amenity and retail spaces, delivering a world-class offering to businesses seeking innovative mixed-use environments in the heart of Dubai's financial district," he added.

Architectural services company AEDAS is responsible for designing the project, while DAR Group is developing the tower, featuring a 37-story building that serves multiple purposes.

While the total tower is spread around 115,000 square meters, 58,573 square meters will be used for office space, 10,596 square meters for retail space, and 680 square meters for amenities.

The tower is slated to be completed by April 2027, offering a perfect blend of work, leisure, and luxury. The office sizes in the tower will range between 60 and 158 square meters and tenants at the tower will also be able to access the Members' Club on the 26, 27, and 28 floors.

Under the 2030 Strategy, the DIFC continues to strengthen its position as a global financial hub for business and innovation. DIFC successfully launched its first residential project, DIFC Living, last year in Dubai, and it sold out within 48 hours. Moreover, 15 DIFC buildings received Platinum and Gold LEED certification this year.