Mohammed bin Rashid Launches Phase Two of the Dubai International Financial Centre
In a move that reflects the UAE’s commitment to enhancing its status as a global financial hub, Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, announced the launch of Phase Two of the Dubai International Financial Centre, known as “Zabeel District.” This major project includes comprehensive development aimed at accommodating thousands of professionals and strengthening the financial infrastructure to support the national economy. With this initiative, Dubai will enhance its position as one of the leading financial destinations in the world.
Details of Phase Two of the Dubai International Financial Centre
The announcement of Phase Two of the Dubai International Financial Centre came in a post on the “X” platform, where His Highness indicated that the project will accommodate approximately 125,000 professionals within an estimated area of 17 million square feet. The total investment value for this phase is around 100 billion dirhams, reflecting the government’s commitment to achieving an ambitious investment vision aimed at positioning Dubai among the top four financial centers globally.
New Facilities and Educational Amenities
Sheikh Mohammed bin Rashid explained that the new project will include an expansion of the financial academy, increasing its capacity to 50,000 students annually. Additionally, Phase Two will feature an innovation center dedicated to the digital economy, spanning one million square feet and accommodating 6,000 companies and 30,000 professionals in artificial intelligence. Therefore, “Zabeel District” serves as an ideal platform for the growth of startups and innovation in financial and technological fields.
Enhancing Culture and the Arts
Moreover, a center for arts and culture and a conference center will also be launched, reflecting the diversity that Dubai aspires to achieve. These new facilities will provide advanced technological infrastructure considered among the best in the world, to support and empower financial companies in achieving their goals. Promoting the arts and culture alongside financial operations contributes to creating an integrated and attractive work environment.
A Vision for the National Economy
Sheikh Mohammed bin Rashid confirmed that the UAE economy is undergoing significant transformations aimed at enhancing the country’s position as an international economic center. He added, “Our expansions aim to achieve developmental leaps, and our future as an international economic center is solidifying day by day.” Phase Two of the Dubai International Financial Centre represents an important step toward realizing this vision and ambition.
With the launch of Phase Two of the Dubai International Financial Centre, Dubai is moving toward stimulating innovation and growth, contributing to the enhancement of the national economy and ensuring a prominent position in the global financial arena.