DESIGN INDUSTRY FLOCKS TO DUBAI DESIGN DISTRICT
DEMAND FOR D3 LICENCES OUTSTRIPS EXPECTATIONS
The
master developers of Dubai Design District (d3), TECOM Investments,
today confirmed a high level of interest in the project from prospective
business partners, demonstrating the design community’s strong support
for the concept.
Since its
launch by His Highness Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice
President, Prime Minister and Ruler of Dubai, in June last year, d3 has
received over 500 expressions of interest, outstripping
expectations. As a result of its popularity, dozens of licenses to
operate under the d3 free zone are already either in process or
approved.
Construction
work is well underway on the first phase of d3, the AED 4 billion
development of the ‘core’ of the 15.5 million sq. ft. site, including
state of the art offices and workshop spaces, which are expected
to be ready for tenants in early 2015.
The
second phase of the development will focus on d3’s stunning waterfront
area. This will feature substantial F&B, retail and entertainment
elements to ensure it operates 24/7. By providing visitors with
round-the-clock
activities and facilities, d3 will help achieve Dubai’s Tourism Vision
2020 goals of attracting 20 million visitors and AED 300 billion in
tourism revenues per year by 2020. Once complete, d3 will be a world
class creative community that promotes and nurtures
emerging regional design talent, as well as providing a home to the
world’s leading brands.
To
ensure the development provides the right facilities and infrastructure
to both established international brands and emerging regional
designers, d3 ‘crowd-sourced’ much of the design for
the project. Management called on the people that know the industry
best – the experts – to provide their insight into its physical
development from the outset. This process allowed the design community
the opportunity to take ownership of their potential
new home and ensure that every aspect of the site is relevant to their
needs.
The
d3 site, located just minutes from Dubai Mall, will boast a 1km
waterfront twice the length of Jumeirah Beach Residences (JBR). This
will feature international and niche hotels, a pop up shop area, and a
convention
centre. The property options on offer will include residential,
commercial, retail and hospitality real estate, and the area will be
characterised by distinct public spaces, unique street furniture, and
shaded walkways.
While
construction at d3 progresses as planned, businesses and individuals
can already apply for and secure their licence. They will be able to
operate from one of TECOM’s other free zone locations until their
particular space is ready for move-in.
Dr Amina Al Rustamani, Group CEO at TECOM Investments, commented:
“I am delighted that d3 has attracted so much interest from the
design community. We undertook extensive research and planning to ensure
we create an environment that provides global brands better access to
regional talent and the growing GCC markets, as
well as being a platform to promote emerging Arab talent
internationally. This strategy, coupled with TECOM’s track record in
creating, operating and growing successful, industry-focused free zones
in Dubai puts d3 in a strong position going forward.
“TECOM’s pioneering and industry-focused business parks have helped play a key part in the development of Dubai’s knowledge economy and in increasing employment levels across the UAE.
“Luxury
brands like Hermes, apparel brands such as Nike, and educational
institutions focused on the industry like ESMOD, are already doing
business in TECOM’s other free zones, and the significant level of
interest
d3 has garnered shows others from the industry are keen to join them.”
More than 100 design-related organisations already operate in TECOM’s other free zones locations.
