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$1b ICD Brookfield tower in DIFC announces first retail lease

With 150,000 square feet of retail space, nearly half will be private members club

Gulf News

Dubai: The retail offering at one of Dubai’s most eagerly-awaited towers is beginning to take shape, with the announcement of a 63,000 square feet private members club spread over five floors.

Due to open in 2019, the ICD Brookfield Place in the Dubai International Financial Centre (DIFC) has signed a pre-let agreement with The Arts Club, a private members club hailing from Mayfair in London.

This is the first retail announcement for the new building, which has 980,000 square feet of commercial office space, and 150,000 square feet of total retail space.

A joint venture between ICD, the Dubai state-owned sovereign wealth fund, and Brookfield Property Partners, the commercial real estate developer, DIFC’s new $1 billion tower will feature a half acre public space, hosting a year-round programme of arts and cultural events.

According to a statement released by the company on Wednesday, The Arts Club will occupy 40,000 square feet across five levels, with an additional 23,000 square feet of outdoor space on a 20-year lease.

Among the facilities for members will be a rooftop terrace, three restaurants and bars, a cigar club, art exhibition spaces and a business centre.

No details were included on the cost of membership.

In addition to the private members club, the retail space at ICD Brookfield Place will include a health and fitness club, gourmet food hall and al fresco dining experiences, according to the statement.

Gulu Waney, The Arts Club’s principal shareholder, said in a statement: “There is a strong appetite in Dubai for world-class hospitality, as well as an innovative arts and events programme.”

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