Dubai International Financial Centre (DIFC) has formally launched its AED475m ($129m) Gate Avenue retail district at DIFC.

The 61,000-square-metre retail centre will connect existing buildings at DIFC, as well as future developments. There will be 150 retail outlets in the centre that was previously known as the Retail Spine.

The Gate Avenue will be split into several zones.

The North Zone will run from the Gate building and has been designed for professionals working in the financial district. It will feature exclusive retail offerings, high-end stores and luxury outlets.

The Central Zone will have indoor and outdoor restaurants together with high-street retail, fashion and beauty brands, as well as convenience stores serving the metro passengers.

The South Zone will cater primarily to the residential community and visiting families. Its retail mix will comprise lifestyle, health and leisure categories, childrens’ entertainment, family recreational activities and food and beverage outlets.

The Promenade Level will be a pedestrian thoroughfare for DIFC extending about 1 kilometre, which has been designed to have outdoor spaces for walking. One of the key highlights of the Promenade will be its modern and contemporary mosque, which will accommodate 500 worshippers.

DIFC says that construction on the fast-track project will start in the third quarter of this year and the centre will open in fourth quarter of 2017.

The consultant for the Gate Avenue development is the UK’s RMJM. The project manager is US-based Turner Construction International.

DIFC is also tendering a contract to build the Gate Village 11 building. Contractors submitted bids for the contract in the first quarter of this year and are waiting for an award.