DIFC 2.0 expansion for business setup in UAE

DIFC 2.0 expansion for business setup in UAE

DIFC 2.0 expansion for business setup in UAE

United Arab Emirates has rapidly become, and will continue to be a focus for companies looking to capitalize on growth opportunities – DIFC is no exception. Dubai International Financial Center (DIFC) is the leading financial hub in Middle East, Africa and South Asia providing a growth platform for major international financial institutions and to go for business setup in Dubai.

Also Read: Why UAE is best place for expats

In order to further cement Dubai’s position as a pivotal economic and commercial hub for the MAESA region, Vice President and Prime Minister of the UAE and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum launched new chapter in the development of the DIFC with the name “DIFC 2.0”.

What is DIFC 2.0?

DIFC 2.0 is a phased growth plan which will triple the scale of DIFC and enable it to drive future of finance.

  • DIFC 2.0 expansion will add a total of 13 million square feet of vibrant and stimulating space to the center’s integrated ecosystem.
  • The development of DIFC 2.0 will start immediately and will be finished in several stages. Upon completion, the new district will have,
    • 4 million sq. ft. office space
    • 6 million sq. ft. creative space
    • 5 million sq. ft. residence space
    • 3 million sq. ft. retail space
    • 700,000 sq. ft. leisure and entertainment space
    • Financial campus covering 400,000 sq. ft.
    • 250,000 sq. ft. of hospitality offerings
    • 5 million sq. ft. of car parking space
  • DIFC 2.0 will provide an international focal point for FinTech and innovation, boosting the center’s reputation as one of the world’s most advanced financial center.

Established in 2004 with just 19 firms under workforce of 75 professionals, DIFC is one of the world’s top financial centers. Today more than 23,000 professionals work across 2000 companies in the District making it a top spot as a banking hub and attracting regional and global players such as Goldman Sachs Group Inc. and JPMorgan Chase & Co., as well as asset managers and insurers for business setup in Dubai with promises of zero taxes for fifty years. The place of choice for entrepreneurs and cutting edge technologies, an established District, a world class destination, a vibrant community and with the new chapter DIFC 2.0 leading the way to the new financial landscape.

DIFC district has direct connections to Dubai transport networks embracing a pedestrian lifestyle set apart from conventional city living, underground service paths allow for the free movement of bikes, pedestrians, cars and large transportation. Open green space brings people together to innovate in a natural environment creating a likeminded community. Smart urban planning creates shaded public spaces allowing year around walkability.

A place for co-workers, a place for financial techies, a plane for entrepreneurs, a place for researchers, a place for innovators, a place for their families, a place for makers, a place for learners, DIFC 2.0 is a place for all.

Sheikh Mohammed considers financial sector as one of cornerstones of UAE’s economy. He said,

“We are keen that the development of financial infrastructure is matched by the development of legislation by continuously reviewing it to ensure it is among the best in the world and that it can facilitate the best environment for supporting greater excellence and achievement”.

The financial world is evolving. As the size and nature of financial firms change, DIFC is providing a platform to grow collaborate and excel. DIFC 2.0 will drive the future of finance and the future of Dubai.

For information on company setup in Dubai free zones or mainland Dubai, contact our business setup consultants. Visit our website Business Setup Consultants Dubai or email your query at info@businesssetupconsultantdubai.com.

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