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| Background |
The DIFC Development CompanyDIFC Development Company is building Dubai International Financial Center. The project has a land development area of 5 million sq.ft., a built-up area of 45 million sq.ft. of which 2 million sq.ft. is the gross floor area. Approximately 40 towers will be constructed on a shared podium. Construction of the Gateway building (the headquarters of Dubai International Financial Center Company) was finalised in 2004 and other projects have been carried out by a number of developers, including: Daman InvestmentsDaman Investments , ETA Star Property DevelopersETA Star Property Developers , Al Fattan PropertiesAl Fattan Properties , Mazaya Real EstateMazaya Real Estate , and Damac PropertiesDamac Properties . Infrastructure works were carried out by Wade Adams. DIFC offers 100% foreign ownership, 0% tax rate on income or profits, no restrictions on foreign exchange, enforcement of money laundering laws, office accommodations and infrastructure, operational support, and other business facilities. |
| Latest Events |
As of October 2007, a number of real estate projects are being executed in Dubai International Financial Center by private developers. |
| Scope of Work |
Infrastructure works included: Drainage & sewerage pipelines, road works, communication cable works, and DEWA (ED) cable works. Diversion and improving existing services, construction of new road networks, and building a pumping station. |
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| Schedule | Contract Phase/Phase | Description |
| 2002 |
Planning | Planning started
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| Q4 2004 |
Completion | Construction of the Gateway completed
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