Commercial and retail space in One Central spans 159,793 sqm with a four-level basement parking of 4380 spaces
Dubai World Trade Centre (DWTC) has said that the last phase of the commercial and retail segment at its One Central development has been completed ahead of schedule, following the delivery of The Offices 4 and 5.
A mixed-use development at the heart of Dubai’s central business district, One Central offers interconnected space, integrated offices, retail, residences, hotels and a range of F&B offerings to DWTC’s mega-events venue and to the wider city, through a world-class transportation network, DWTC said in a statement.
The total completed commercial and retail space in One Central spans 159,793 sqm, of which Grade A office space of 68,934 sqm has been delivered making the commercial and retail component complete. It also has a four-level basement parking of 4,380 spaces.
DWTC added that the next phase of development is AccorHotels’ 25hours Hotel Dubai One Central, which is scheduled to be completed by June 2020. The hotel will be making its regional debut of the German hospitality brand outside of Europe and will be the largest of the brand in the world with 434 rooms. It will feature a mix of modern rooms and suites, the company said.
One Central’s business occupants benefit from DWTC Authority’s free zone competitive setup costs, with a reduction in registration fees by 50%-70% announced earlier this year, and a 40%-50% reduction in immigration fees depending on the scale of business operation, DWTC said in the statement.
Coupled with the 588-room Ibis One Central Hotel, and The Offices 1, 2 and 3 which were completed in the last three years, One Central is home to a variety of blue-chip tenants from the fields of oil and gas, finance, insurance, tourism, and management consulting.
“Through place making and place management, we have created a new top-of-mind vibrant urban destination with One Central, one that offers a competitive advantage with excellent locational connectivity,” said Gurjit Singh, senior VP (Real Estate) at DWTC.
“It is designed to address the evolving needs of the business occupier, multinational corporations and the evolving needs of the business traveller and is gaining significant interest from global and local companies.
“One Central’s business-friendly regime, and a carefully master-planned mix of corporate offerings, retail and hospitality, offers unique lifestyle experiences in line with placing Dubai on a global map as an iconic destination to live, work, play and connect,” he added.
Once completed, One Central development will be a new urban destination with commercial office, retail, hospitality, residential, car park and open green spaces. Hotel accommodation will range from affordable hospitality, perfect for corporate stays, to premium accommodation for the leisure traveller, the statement concluded.