Construction and foundation works have begun for $272m project, which is scheduled for completion in 2019
Construction and foundation works have begun for the AED 1 billion ($272m) second stage of the Dubai Design District (d3), according to a statement from the TECOM Group free zone.
The works are scheduled to complete in 2019, according to a tweet by the official Dubai Media Office.
“We are happy to announce that we have started construction and foundation works for the second phase of the d3 project, which will include a specialized creative community designed and executed by Foster and Partners,” said Dr. Amina Al Rustamani, CEO of TECOM Group.
“The community extends over 1 million [square feet] and involves an investment of AED 1 [billion]. Spaces will be provided for designers to execute light works, as well as a gallery and retail space. It will have special importance as a flourishing cultural center for upcoming designers and artists, and will attract visitors and tourists to the region.”
The d3 statement also said existing occupancy levels in the zone rose to 85% at the end of this month, with 40% of the companies originating from the UAE and 60% internationally.
In six months, the district will launch studios dedicated to SMEs and a workshop for start-ups, the d3 statement added.
Over 160 design companies are currently operational in the zone including 4,500 creative individuals, a number expected to increase to 10,000 during the first stage of the project, d3 said.