ome to major multinationals and start-ups, the Dubai Multi Commodities Centre (DMCC) drove business and real estate expansion in the first half of this year, adding 1,023 new member companies as the business district approaches 25,000
companies. DMCC, the world’s most interconnected Free Zone, now accounts for 15% of all foreign direct investment (FDI) in Dubai, up from 11% last year, as well as 7% of the emirate’s GDP.
As part of its efforts to attract the next wave of global investment to Dubai, DMCC’s focus for the second half of 2024 remains the consolidation of its major real estate developments in Uptown Dubai and Jumeirah Lakes Towers (JLT) as well as the strategic expansion of its network of ecosystems in high-value sectors such as AI and Web3.
DMCC continues to enhance and expand its commercial real estate offering across its flagship districts of Uptown Dubai and JLT. In January, DMCC broke ground on the second phase of its 5.8 million square foot Uptown Dubai development, which will add two 23- and 17-storey towers of grade A commercial office space to businesses looking to set up in Dubai through DMCC. Meanwhile, the development of Uptown’s Atrium and Plaza are at an advanced stage of completion, which will house a range of exciting new F&B, retail, and entertainment options for Uptown Dubai employees, residents and visitors.
The first half of 2024 also saw the announcement of several premium residential projects across the district. In Uptown Dubai, Mercer House by Ellington will include two towers offering multi-family units from studios to penthouses. In JLT, W Residences by Signature Developers will deliver a 32-storey development with around 200 exclusive design-forward apartments, while Viewz by Danube will feature twin 65-storey towers with a range of apartments and Sky Villas. These efforts are earning notable industry recognition worldwide.
In May, the Council of Tall Buildings and Urban Habitat (CTBUH) honoured DMCC with three Awards of Excellence, praising its innovative design, contribution to the advancement of tall buildings, and prioritising of sustainability and wellbeing.
These awards add to DMCC’s growing list of accolades for Uptown Tower, including three Commercial Interior Design MENA awards, three British Safety Council awards, the International Safety Award with Distinction, and Construction Week’s Best Mixed-Use Tall Building award.
