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*DIFC ties up with Nexus Capital In $ 260M Venture

Alliance seeks to attract foreign direct investment

Alliance seeks to attract foreign direct investment. Dubai International Financial Centre (DIFC) and Nexus Capital - a prominent financial services firm headquartered in Switzerland - have joined to create the $ 260 million. The Hexagon, a real estate complex here.
The partnership will aim to attract foreign direct investment (FDI) in the DIFC.

The centre has already received commitments from many of the world’s top financial services companies, including AON, Credit Suisse, Standard Chartered and Julius Baer.

Demand for prime office space in central Dubai is expected to increase by 8 million square feet by 2008 and by a further 8.5 million square feet by 2015.

The prime residential sector demand is also expected to grow by an estimated 24,000 units by 2008 and a further 45,000 units by 2015.
Damien Tappy, chairman of Nexus Capital, said The Hexagon will attract the highest end private and commercial tenants to the DIFC and will become the address of choice in central Dubai.

Financial marketplace

The Hexagon, which will be located on the eastern edge of the DIFC zone, will offer 1.4 million square feet of commercial and residential space within the DIFC.