DIFC Plans Four-Building Development to Expand Offices, Hotels and Homes Across Its 10,018-Firm Business Hub.
Dubai: Construction has begun on Water Gardens, a $1.4 billion (Dh5.14 billion) mixed-use development in the heart of the Dubai International Financial Centre (DIFC). The four-building project, led by H&H Development, will feature hotels, residential apartments and office spaces, with completion scheduled for 2028.
Bloomberg previously reported that around 30,000 workers were on-site as construction progressed despite the ongoing Middle East crisis. However, regional tensions have affected property transactions and pushed up construction costs.
The development comes as DIFC continues to expand its business community. By June 30, the financial hub had surpassed 10,000 registered companies for the first time, reaching 10,018, compared with 8,844 active firms recorded in 2025. Its artificial intelligence, fintech and innovation community also grew from 1,677 to 1,933 companies. DIFC employed 50,200 professionals in 2025.
Water Gardens represents one of the final elements of the original Gate District masterplan. Saleh Al Akrabi, chief real estate officer at DIFC Investments, described the project as “a superb addition to DIFC”, highlighting its role in bringing together workplaces, hospitality, retail, public spaces and residential living.
Connecting offices, retail and residential spaces
The development is designed to strengthen connections across DIFC’s existing commercial and lifestyle destinations. Plans show elevated access points from Al Sukook Street and Al Mustaqbal Street, while the development will connect directly to Gate Avenue below.
This connection will extend DIFC’s pedestrian and retail network, providing access to restaurants, fashion outlets, beauty businesses and lifestyle offerings.
Grade A offices form the centrepiece
Office space is a key component of Water Gardens. The Offices at Water Gardens will provide 21,965 square metres (236,430 square feet) of Grade A net leasable area, spread across three floors featuring smaller micro-suites and larger office configurations.
The building is targeting LEED Platinum certification, a leading sustainability standard. Global property consultancy JLL has been appointed as the exclusive leasing partner.
The 12-storey tower will also include a members’ club, according to H&H chief executive Miltos Bossinis.
H&H chairman Shahab Lutfi said most of the development would be retained for leasing and operation rather than sold. He pointed to changing lifestyles among DIFC’s growing professional community.
“DIFC has always been defined by professional ambition, but increasingly, people are choosing to build their lives here too,” Lutfi said.
Hotels and branded residences expand the offering
The residential and hospitality components will complement the office space. One of the hotels will be accompanied by 154 rooms and 40 residences, while Eden House, a separate building comprising 132 apartments, will remain under H&H ownership as a rental-income asset.
Demand for branded residences has also been strong, with approximately 85 per cent sold at prices exceeding Dh8,000 per square foot.
Last week, H&H sold two Four Seasons-branded residences for Dh35 million and Dh45 million, respectively, underscoring the premium segment of Dubai’s property market.
DIFC strengthens its position as a global financial hub
Water Gardens adds to DIFC’s broader expansion as Dubai seeks to strengthen its role as an international centre for finance, investment and innovation.
For more than 22 years, DIFC has supported trade and investment flows across 77 countries, representing a combined population of 3.8 billion people and economic output of $11.2 trillion.
The financial district’s growth has contributed to Dubai’s rising international profile. The city ranked seventh in the Global Financial Centres Index, its highest position to date.
With offices, hospitality, retail and residences brought together in one development, Water Gardens is set to add another dimension to DIFC’s evolution as a destination where professionals can work, live and socialise.
