New DIFC innovation hub to spur fintech ecosystem in Dubai

The DIFC Innovation Hub, which is the region’s first ecosystem dedicated to bringing fintech and innovation communities together, was recently opened. Located in the Gate Avenue, the 80,000 sq. ft. facility is part of the new Dubai Future District. During its official inauguration on Tuesday, Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, and president of the Dubai International Financial Centre (DIFC) approved plans to increase the size of the innovation hub four-fold to over 315,000 sq. ft, since all the space currently allocated to it has already been used. Over the next two years, the expansion will include the development of an additional tower linked to the existing DIFC Innovation Hub, confirmed a statement issued by Dubai Media Office. Accommodating up to 1,000 businesses, the building will have fitted offices, co-working spaces and light F&B outlets in the concourse and fine dining outlets at the rooftop level. The DIFC Innovation Hub is a major part of the Dubai Future District in 2020 with over 350 fintech and innovation firms.