The joint venture between Investment Corporation of Dubai (ICD) and Brookfield Asset Management has broken ground on its $1bn-plus ICD Brookfield Place tower within Dubai International Financial Centre (DIFC) district.
The 53-storey, 282m-high tower, which has been designed by British architects Foster + Partners, will contain more than 900,000 sq ft of Grade A office space and will connect to an adjacent, 150,000 sq ft, five-storey retail centre. There will also be an 18,000 sq ft public realm area flanked by restaurants that will feature regular arts and cultural events, and the complex will have parking for 2,700 cars.
The top three floors of the tower are being built as Sky View suites with internal gardens and the project has been designed with a view to achieving a LEED Gold sustainability rating.
Brookfield Asset Management chairman Ric Clark said the site contains many of the features of other Brookfield Place schemes it is building in New York, Toronto and Perth
The main contract to build the project has been awarded to a joint venture between contractor Brookfield Multiplex and South Korea’s Ssangyong Engineering and Construction. The building is expected to be completed in the fourth quarter of 2018, with the first tenants likely to occupy in early 2019.
ICD’s executive director and chief executive Mohammed Al Shaibani said that ICD Brookfield Place “will be a world-class development that enriches its surrounding area and significantly adds to the Dubai skyline”.
Mr Clark said that it was creating a state-of-the-art tower that was “setting the benchmark for commercial property in the region”.
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