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DIFC announces $300 million Immersive Tower, boosting Dubai’s office and retail space

The Immersive Tower is scheduled for completion in April 2027

DIFC announces $300 million Immersive Tower, boosting Dubai’s office and retail space

Dubai International Financial Centre (DIFC) broke ground on Wednesday on a new $299.50 million (AED1.1 billion) commercial tower in the district.

Named Immersive Tower, the project has a total built-up area of over 115,000 square metres and is located adjacent to Daman Tower and ICD Brookfield Place. It is scheduled for completion in April 2027.

Conceptualised by AEDAS and developed by DAR Group, the Immersive Tower consists of 37 storeys, including 58,573m2 dedicated to office space, around 10,596m2 of retail space, and over 680m2 for amenities; tenants will also have access to a Members’ Club across the 26th, 27th, and 28th floors. Office sizes range from 60m2 to 158m2.

According to JLL’s UAE Real Estate Market – A Year in Review 2023, 156,000 square metres of gross leasable area is expected to enter the country’s office sector in 2024 as businesses demand quality space, while an additional 160,000 square metres of retail space is anticipated to enter Dubai alone.

“With the ever-growing number of regional and international financial institutions, fintech and innovation firms establishing in DIFC, we recognise the requirement for Grade A office space catering to workplaces of the future,” said Essa Kazim, Governor of DIFC.

“The Immersive Tower by DIFC, seamlessly brings together commercial, amenity and retail spaces, delivering a world-class offering to businesses seeking innovative mixed-use environments in the heart of Dubai’s financial district.”

DIFC saw high demand for commercial space in 2023, with owned, managed, and third-party commercial properties seeing a 92% occupancy rate.