Dubai Multi Commodities Centre (DMCC) has continued to expand and enhance its real estate offering substantially.
In accordance with this expansion, it recently broke ground on the second phase of its development in Uptown Dubai.
The second phase
This launch came after Swissboring Overseas Piling Corporation was appointed for foundation and enabling works.
In the development’s second phase, two mid-rise towers will be constructed within the district of Uptown Dubai at the southern end of the city in the heart of new Dubai.
Almost 70,000 square meters, or 753,000 square feet of Grade A commercial space will be offered by the 17 and 23-storey towers.
There will also be 8,000 square meters, or 86,000 square feet for retail and food and beverage outlets as part of the premium standard of the urban community.
The total gross floor area (GFA) of Uptown Dubai after its completion will be 538,000 square meters, or 5.8 million square feet, with commercial office space taking up about 232,000 square meters.
Almost half of the towers in the district have now been launched once these two towers are added. Uptown Tower is also included.
In addition, Ellington Properties recently launched Mercer House, which also includes two residential towers.
The nine towers of Uptown Dubai will surround The Plaza, the district’s focal point. This will eventually host a diverse and dynamic offering of activities, from fashion, film and music performances to art installations.
DMCC’s CEO and Executive Chairman, Ahmed Bin Sulayem, said that over two decades, DMCC has aimed to achieve the vision of Prime Minister, Vice President and Ruler of Dubai.
His Highness Sheikh Mohammed bin Rashid Al Maktoum wants Dubai to have a world-class business district.
The CEO said that providing good-quality commercial space is an important part of this vision and they have tried to achieve it by understanding the requirements of international companies.
He added that there had also been warnings that there was a chronic oversupply of office space in Dubai.
However, he said that their approach was reaffirmed when the suite of Grade A offices in Uptown Tower were pre-leased successfully in record time.
The second phase
According to the CEO, they are planning on replicating the same success in the second phase of Uptown Dubai and they are adding two more commercial towers to expand their business district and enhance the overall value.
The enabling work from Swissboring will primarily focus on the basement retention systems, as the two towers will have three basement levels.
It will also focus on dewatering works, foundation work, future bridges and podium levels and excavating the entire plot that has been assigned to the second phase.
The second phase of the development of Uptown Dubai comes after the Uptown Tower’s launch in 2023.
31 of the leading businesses in the world have offices in the 81-storey tower, which include the Gemological Institute of America, Hikvision, Wellbred and Invisalign