Dubai International Financial Centre (DIFC) has commenced the phased handover of DIFC Square ahead of schedule, driven by growing demand for commercial space within the financial centre.

The project, comprising 600,000 square feet (sq. ft.) of Grade A commercial space, was 100 percent pre‑leased before handover, DIFC said in a statement.

DIFC Developments completed DIFC Square within the 24-month design and construction timeframe, the statement said.

Some existing DIFC companies are either relocating to larger premises in DIFC Square or expanding their footprint by securing additional space. These companies include Bank of Singapore, Deutsche Bank, Gallagher Insurance, Herbert Smith Freehills Kramer, Moody’s and TP ICAP.

Tenants who have received offices have already commenced fit-out works, DIFC said.

DIFC Square is part of the centre’s plan to deliver 1.6 million sq. ft.  of commercial space in 2026 and 2027, including DIFC Living, Innovation Two and Immersive Tower.

In January, Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, launched a 100 billion UAE dirham ($27.23 billion) mega project to expand the DIFC through the creation of the DIFC Zabeel District.

DIFC is home to 8,844 active firms. These include 1,052 regulated firms, including over 500 wealth and asset management firms, 290 banks and capital markets firms, 135 insurance and (re)insurance companies, and 70 brokerage entities.

(Editing by Anoop Menon) (anoop.menon@lseg.com)

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