DIFC adds hotels, homes and offices as Dh5.1 billion project takes shape
A new 4-building scheme will add offices, hotels and homes to DIFC, home to 10,018 firms
Dubai: Construction for Water Gardens, a $1.4 billion or Dh5.14 billion mixed-use destination at the heart of the Dubai International Financial Centre (DIFC) has begun. The project which will house four buildings will include two hotels, residences and offices spaces. H&H Development leads the project, which is due for completion in 2028.
Bloomberg earlier reported that there were already 30,000 boots on site and work continues despite the on-going Middle-East crisis, however it has made an impact on property transactions and construction costs.
The timing of this new development suits DIFC well. By June 30, the centre had crossed 10,000 registered companies for the first time, reaching 10,018. That compares with 8,844 active firms recorded in 2025. Its AI, fintech and innovation community also grew from 1,677 to 1,933 companies. DIFC employed 50,200 professionals in 2025.
Water Gardens is one of the final components of the original Gate District masterplan. Saleh Al Akrabi, Chief Real Estate Officer at DIFC Investments, calls it “a superb addition to DIFC.” He says the project strengthens links between workplaces, hospitality, retail, public spaces and residences.
A detailed floor plan of the project makes it even more interesting.The development sits above street level, with arrival stairs from Al Sukook Street and Al Mustaqbal Street. Beneath it, the scheme connects directly to Gate Avenue. That extends DIFC’s retail and pedestrian network with dining, fashion, beauty and lifestyle outlets.
But it’s the office space that anchors the project. The Offices at Water Gardens will offer 21,965 square metres (236,430 square feet) of Grade A net leasable area. Three floors will hold micro-suites alongside larger formats. The building targets LEED Platinum certification, and JLL is the exclusive leasing partner.
The tower rises 12 storeys and includes a members’ club, according to H&H chief executive Miltos Bossinis. Most of the development will be leased and operated rather than sold, chairman Shahab Lutfi says. He frames the project around changing habits in the district. “DIFC has always been defined by professional ambition, but increasingly, people are choosing to build their lives here too,” he said.
Residential and hotel components then complete the mix. A second hotel will bring 154 rooms and 40 residences. Eden House, a 132-apartment building, will stay with H&H as a rental-income asset. About 85 per cent of the branded residences have sold, at more than Dh8,000 per square foot. Last week, H&H sold two Four Seasons-branded homes for Dh35 million and Dh45 million respectively.
The latest development only goes to strengthen DIFC’s appeal. The hub has served trade and investment flows for more than 22 years across 77 countries. Those markets hold 3.8 billion people and $11.2 trillion in output. This has helped Dubai reach the seventh place in the Global Financial Centres Index, its highest ranking so far.
