Dubai International Financial Centre announces new development at Gate Village

Dubai International Financial Centre (DIFC) has renamed Building 11 within its Gate Village development "the Exchange."

The renamed building will offer 114,000 square feet of office space and 33,000 square feet of retail space.

"The Exchange is a very attractive addition to our existing Gate Village and highlights our efforts to continuously enhance the appeal of DIFC, a destination beyond a financial centre," Nabil Al Kindi, property development executive vice president at DIFC, said.

The $49 million development will include food and beverage options from two world-class restaurants, outlets that open onto a landscaped piazza called "the Exchange Square," a business center and seven office floors.

Concrete works of the Exchange's substructure are already finished, though the podium level is expected to be done by the end of this month and the concrete skeleton of the structure by July. The development is set to be completed by the first quarter of next year.

Khansaheb is the main contractor for the project.