High demand for Dubai Design District
Licenses request exceed expectations, says Tecom Investments
March 10, 2014 4:34 by kippreport
The master developers of Dubai Design District (d3), TECOM Investments, today stated that there is a high level of interest in the project from prospective business partners.
Since its launch by His Highness Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President, Prime Minister and Ruler of Dubai, in June last year, d3 has received more than 500 “expressions of interest”, according to the developer’s statement. Dozens of licenses are already either in process or approved.
Construction work is under way on the first phase of d3, the AED4 billion development of the ‘core’ of the 15.5 millionsq ft. site, including offices and workshop spaces, which are expected to be ready for tenants in early 2015.
The second phase of the development will focus on d3’s waterfront area. This will feature dining outlets, retail and entertainment.
The project has ‘crowd-sourced’ much of the design for the project. Management called on experts to provide their insight into its physical development from the outset.
The d3 site is located just minutes from Dubai Mall, and will boast a 1km waterfront, twice the length of Jumeirah Beach Residences (JBR). This will feature international hotels, a shop area and a convention centre. The property offers residential, commercial, retail and hospitality real estate.