Wednesday, 10 February 2010
'DIFC firms cannot operate from outside'
Companies with the Dubai International Financial Centre (DIFC) licence are no longer allowed to practice or operate outside the centre, its Governor told Emirates Business.
Firms that are currently occupying office spaces outside the financial free zone would, therefore, have to come back and DIFC can now accommodate them.
"Why practice outside the centre? It can accommodate everybody," said Ahmed Humaid Al Tayer. "Before there was shortage of space, now investors are putting more space there."
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The long term aim was always to have everyone in the centre rather than dotted around Dubai, but how accommodating the DIFC leasing dept will be in terms of rents remains to be seen, or how long firms will have to make the transition..
ReplyDeleteIndeed it was the long term aim, and should remain so to maintain the "FZ" concept, but at market rates, not penalising rents or possibly Bahrain and Qatar will be the beneficiaries!
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