In another sign that there's something of a battle heating up to become the Gulf's preeminent financial centre, the DIFC has drastically slashed its operating fees at a time when Doha is looking to aggressively develop its financial sector.
From January next year the DIFC will implement a revised set of operational fees for companies base din the business park – charging AED160 a square foot, down from an estimated AED400 for the same space previously.
The DIFC's sky-high costs have seen it flounder this year. Earlier this year, it embarked on a second round of redundancies, as new registers slowed to a snails pace and existing firms were reluctant to expand their presence during such austere times.
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