Bourse to move to Business Bay

02 November 2007

The Dubai Financial Market (DFM) has been granted land for a new stock exchange building at Business Bay.

The government has instructed Dubai Properties to allocate a 36,000 square metre plot for the project, worth AED 280 million ($76 million).

The headquarters will have three floors with 120 broker offices. Selected companies were invited to prequalify for the project earlier this year, together with the Signature Towers that are being developed by Dubai Properties on the adjoining site. The UK’s Mace International is the project manager.

The architect is UK-based Zaha Hadid Architects (MEED 18:5:07). It is the second financial market project in the federation. A new stock exchange will be built on Suwwa island in Abu Dhabi.

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