In English the synonym of luxury is lavishness but in the real world the synonym of luxury is Dubai. It is a place where one can find palm trees, lavish cars and tallest building of the world. That’s what makes Dubai city of dreams and glitters. Now something is also going to add in the glamour of this city. At this time the multibillion dollar industry is dominated by countries like Europe, US and Japan but soon it is going to change. Dubai government has planned to make Dubai the fashion hub of the world and for that they have also approved the plan of Dubai Design District (D3).
The first phase of Dubai design district will have 10 beautiful buildings which will be the core of this project. It is expected that these buildings will be completed in the month of January 2015. With the completion of first phase of Dubai design district construction of second phase will start in the same year of 2015. For this design and planning has already started. The company Tecom who is handling this project has also started booking for space and granting licensing. Companies having license will operate from other free zone business parks till the time D3 sites are ready for them to move in. The first phase of Dubai design district will cost around 1.08 billion dollars and will occupy about 18 million square foot.
The success of this project seems quite promising that is why Dubai is planning to host world expo in 2020. Officials are forecasting that this will attract about 17.5 tourists from around the world and Dubai design district will be one the biggest tourist attraction.
Salient Features of Dubai Design District:
Location: In the heart of the city, adjacent to Business Bay. 3 minutes from the Dubai Mall’s 65 million annual visitors. 6 minutes from the Dubai International Financial Centre. 15 minutes from the Dubai Intl Airport. 18 minutes from the city’s Dubai Media City and Dubai Internet City clusters.
Setting up at Dubai Design District: Dubai Technology & Media Free Zone Authority (DTMFZA) is responsible for the establishment and registration of companies in Dubai Design District. There are 6 easy steps to setting up your Free Zone Limited Liability Company (FZ-LLC) and only 4 steps if establishing a Branch Company.
Regulatory Value: The District falls under an independent, business-friendly regulatory scheme under the Dubai Technology and Media Free Zone Authority. D3 is adjacent to the Business Bay area of Dubai with the dedicated focus of developing the Emirate’s fashion, design and luxury sectors. 100 percent foreign ownership. A simplified environment. A legal framework that encourages startups. Integrated service provision. Full repatriation of profits and capital. A regulatory framework that means business, and ignites creativity.
For more details, check the website of Dubai Design District.
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