Construction will shortly begin on the Gate Avenue, a new urban cultural and entertainment development at the Dubai International Financial Centre (DIFC) that promises to change the face of urban space and living in Dubai.
Habtoor Leighton Group (HLG) was awarded the Dh500-million ($136 million) contract for construction and land preparation for one of the biggest property projects in the emirate.
Gate Avenue also represents DIFC’s largest current project, which is already attracting wide interest from the business and retail communities.
Gate Avenue is already worth Dh450 million ($122.5 million) approximately with the existing truck tunnel and masterplan infrastructure in place.
Combined with the new contract, this will elevate the full development cost to an estimated Dh1 billion ($272 million), reflecting the size, scope and ambition of this major project.
Set for the first phase of completion by the end of 2017, the Gate Avenue project will heighten connectivity of the entire district. A series of spacious, aesthetically-appealing, indoor and outdoor themed areas and walkways will link the podium levels of all buildings located in the DIFC.