DMCC Initiates Second Phase of Uptown Dubai Development
DMCC Launches Next Stage in Uptown Dubai Expansion
The Dubai Multi Commodities Centre (DMCC) has announced the commencement of the second phase in the development of Uptown Dubai, marking a significant step forward in the enhancement of its real estate portfolio. This new phase follows the successful partnership with Swissboring Overseas Piling Corporation, tasked with the foundational and enabling works for the upcoming construction.
New Towers to Enrich Dubai's Skyline
Positioned at the forefront of new Dubai, the second phase will see the rise of two mid-rise towers, standing 23 and 17 stories tall. These towers are set to introduce around 70,000 square meters of premium Grade A commercial office space, alongside 8,000 square meters dedicated to retail and food and beverage outlets, contributing to the upscale ambience of the Uptown Dubai district.
Upon completion, Uptown Dubai will feature a total gross floor area of 538,000 square meters, with commercial office spaces making up 232,000 square meters of this expansive development. The addition of these two towers, along with Uptown Tower and the residential components by Ellington Properties, signifies over half of the district's planned structures are in progress or completed.
Creating a Vibrant Community Hub
The heart of Uptown Dubai, The Plaza, is envisioned as a dynamic center for community engagement, offering a rich array of activities ranging from art, music, film, to fashion events, further establishing the district as a premier lifestyle destination.
A Commitment to World-Class Business Infrastructure
Ahmed Bin Sulayem, Executive Chairman and CEO of DMCC, highlighted the project's alignment with Sheikh Mohammed bin Rashid Al Maktoum's vision of establishing a leading business district in Dubai. Despite skepticism over Dubai's office space market, the rapid pre-leasing of Uptown Tower underscores DMCC's strategic approach to meeting the demands of international businesses.
Strategic Development Milestones
Swissboring is set to focus on comprehensive enabling works for the project, including the construction of basement retention systems, foundation works, and preparation for future developments within the district. This phase builds on the momentum of Uptown Tower's opening in 2023, which now houses leading global companies and luxury accommodations, further cementing Uptown Dubai's status as a key business and lifestyle hub.