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Tuesday, 08 January 2019 11:00

DIFC expansion bid approved

DIFC expansion bid approved

Vice President, Prime Minister of the United Arab Emirates (UAE) and Ruler of Dubai Sheikh Mohammed bin Rashid has reaffirmed Dubai's mission to be a major economic force in the Middle East - after approving the latest phase of an ambitious expansion project for DIFC (Dubai International Financial Centre) that will see the financial district triple in size, Caspian Energy News (www.caspianenergy.net) reports with reference to The National.

The Vice President and Ruler of Dubai said that accelerating the growth of the emirate's financial sector is vital to efforts to drive forward the economy.

Sheikh Mohammed highlighted the key role of DIFC in supporting the emirate's position as a business capital and magnet for international investment.

 “The financial sector remains one of the cornerstones of our economy,” said Sheikh Mohammed.

 “We are keen that the development of infrastructure is matched by the development of legislation by continuously reviewing it to ensure it is among the best in the world and that it can facilitate the best environment for supporting greater excellence and achievement.”

DIFC's phased growth plan will triple the scale of the leading financial hub in the region.

The governor of DIFC, Essa Kazim, outlined details of the expansion bid during Sheikh Mohammed's visit, which will include an extra 13 million square feet of space being added to the complex.

More details: https://www.thenational.ae/uae/government/sheikh-mohammed-bin-rashid-approves-difc-expansion-bid-1.810545

Person in charge of the newsline: Olga Nagiyeva 

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