Dubai still in lead, but race for Gulf financial supremacy is hotting up | Arab News:
"The Dubai International Financial Center (DIFC) last week gave an update on the impressive plans it has to expand — both physically and commercially — as part of a 10-year plan that aims to triple its size by 2024. On the real estate side of the strategy, work is progressing well. The two big flagship projects are: A $280 million plan to link the current Gate complex with the southern end of the DIFC jurisdiction via an avenue of commercial, retail and leisure facilities; and a new $50 million office block addition to the Gate Village complex. Both will open in the first half of next year, according to Nabil Al-Kindi, the DIFC’s real estate chief. That progress is matched by advances on the financial business side. Nearly 22,000 people now work at the center, making the 2024 target of 50,000 eminently achievable; there are some 463 financial firms registered at DIFC, against a target of 1,000 in seven years; assets under management — also forecast to triple — got a big boost last year when HSBC moved its Middle East headquarters to DIFC."
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