Dubai Design District sees big demand
Dubai, March 10, 2014
The master developers of Dubai Design District (d3), Tecom Investments, today confirmed a high level of interest in the project from prospective business partners, demonstrating the design community’s strong support for the concept.
Dubai Design District (d3), a hub for the design, fashion and luxury industry, has received more than 500 expressions of interest since its launch in June 2013, outstripping expectations, said master developers Tecom Investments.
As a result of its popularity, dozens of licences to operate under the d3 free zone are already either in process or approved.
Construction work is well underway on the first phase of d3, the Dh4 billion ($1.08 billion) development of the ‘core’ of the 15.5 million sq ft site, including state of the art 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 1-km waterfront area. This will feature international and niche hotels, a pop up shop area, and a convention centre. The property options on offer will include residential, commercial, retail and hospitality real estate, and the area will be characterised by distinct public spaces, unique street furniture, and shaded walkways.
While construction at d3 progresses as planned, businesses and individuals can already apply for and secure their licence. They will be able to operate from one of Tecom’s other free zone locations until their particular space is ready for move-in, said Dr Amina Al Rustamani, Group CEO at Tecom Investments.
“I am delighted that d3 has attracted so much interest from the design community. We undertook extensive research and planning to ensure we create an environment that provides global brands better access to regional talent and the growing GCC markets, as well as being a platform to promote emerging Arab talent internationally,” said Dr Al Rustamani.
“This strategy, coupled with Tecom’s track record in creating, operating and growing successful, industry-focused free zones in Dubai puts d3 in a strong position going forward.
“Tecom’s pioneering and industry-focused business parks have helped play a key part in the development of Dubai’s knowledge economy and in increasing employment levels across the UAE.
“Luxury brands like Hermes, apparel brands such as Nike, and educational institutions focused on the industry like ESMOD, are already doing business in Tecom’s other free zones, and the significant level of interest d3 has garnered shows others from the industry are keen to join them,” she added. – TradeArabia News Service