Dubai: The sale of apartments in Dubai International Financial Centre's (DIFC) first residential offering - DIFC Living - will commence on September 20, the financial hub announced Thursday.
The mixed-use development is scheduled for completion by Q3 2026. The residential project by DIFC features over 170 upscale residences and nine storeys of commercial space in addition to F&B offerings.
Saleh Al Akrabi, Chief Real Estate Officer, DIFC Investments, said, "Starting at Dh1,495,000, one to three-bedroom residences, executive one-bedroom residences, and one- and three-bedroom loft apartments will be available for sale."
Al Akrabi said the sizes of the residences range from 644 sq. ft. to 2,388 sq. ft. The 186-metre tower comprises 41 storeys, with 24 storeys devoted to residences.
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The tower will also be home to nine floors of commercial space with two storeys dedicated to co-working spaces. This caters to the phase three expansion of DIFC's Innovation Hub, the region's largest innovation community. DIFC Living will also be linked to Gate Avenue, said the financial hub.
"Earlier this year, we appointed Hong Kong-based LWK + PARTNERS's Dubai studio as the lead architect for DIFC Living and Innovation Two, and the architect of record is Group Consult International," Al Akrabi revealed. DIFC also announced that property consultancy firm Knight Frank has been appointed as the sales and marketing partner and will be responsible for the sale of the residences.
A high-end fine dining restaurant -- The Crown -- will be the development's centrepiece. The podium level of DIFC Living will also have several F&B outlets.
According to Knight Frank's latest wealth report, prices of luxury homes in Dubai rose the fastest globally last year, aided by the influx of HNWIs. Dubai continued to lead the Knight Frank Prime International Residential Index (PIRI 100) for the second consecutive year, with costs of premium residential properties in the emirate registering a 44.2 per cent growth in 2022, the highest in the world.
"The launch of this new mixed-use tower will not only raise the bar in the region's premium residential offering, it strengthens DIFC's position as one of Dubai's most high-profile business and lifestyle locations," said Dean Foley, Associate Partner – Residential Sales and Marketing at Knight Frank MENA.