Dubai to Expand Financial Hub With $27 Billion in New Projects

Dubai is planning projects worth more than 100 billion dirhams ($27 billion) to expand the Gulf financial hub as an influx of foreign firms pushes occupancy to limits and leaves global firms struggling to find space.

The Dubai International Financial Center will start construction on an additional area across the road from its original location, which first opened in 2004. The expanded section — to be named DIFC Zabeel District — will add 17.7 million square feet to the 110-hectare (11.8 million square foot) hub. The completion of the six upcoming phases is slated for 2040, according to a presentation ...