Trade centre district will help meet demand

Dubai: The commercial space vacancy rate in the centre of Dubai is just 1 per cent, at a time when over 40 per cent of businesses are looking to expand their premises, according to a study.

Dubai Trade Centre District, the $4.3 billion project being developed by the Dubai World Trade Centre (DWTC), will help meet the growing demand for commercial space once completed in 2010, a statement said. "The Dubai Trade Centre District has been designed to create an enhanced central business district at the heart the Middle East's most dynamic economy," it said.

Dubai Trade Centre District is being developed on the historic site surrounding the World Trade Centre Tower, which was Dubai's tallest building when it was built in 1979.

"This is a highly advanced, landmark project today that will offer highly advanced infrastructure in a prime location for businesses from across the world," said Helal Saeed Al Merri, director-general at the Dubai World Trade Centre.

For international companies, the project represents a unique opportunity to lease commercial office space at the epicentre of one of the world's fastest-growing commercial hubs, with the added advantage of attaining one of the most sought-after business addresses in region.

The architectural consequences of the plan will be profound, transforming the entire area into a new state-of-the-art business quarter, with 200,000 square metres of grade A1 office accommodation, plus 1,000 apartments, 1,000 serviced apartments, retail provision and two hotels.