DMCC Announces Plans for World's Tallest Commercial Tower

The Almas Tower.

(IDEX Online News) – The Almas Tower in Dubai may be the Middle East’s tallest commercial tower, but it is going to pale compared to recently announced plans to build the world’s tallest commercial tower as part of the Dubai Multi Commodities Centre’s (DMCC) 107,000 square meter business park expansion plan. Details of the tower’s specifications are not yet available.

The DMCC is home to the Dubai Diamond Exchange.

"When we announced the plans to build Almas Tower in 2002, the Middle East's tallest commercial tower and DMCC's headquarters, the entire office space across 63 floors sold out to DMCC end users, mostly in the diamond business, in just a few hours,” said Ahmed Bin Sulayem, executive chairman of DMCC.

“The world's tallest commercial tower and the DMCC Business Park are the next natural steps to ensure we continue to welcome companies to the free zone as demand grows... The initiative is designed to further strengthen Dubai's position as the global hub for commodities trade and enterprise,” he added.

The business park and tower, which are currently in the concept stage, will cater to large corporations and multi-nationals that require significant floor space to buy or rent.

Bin Sulayem said that over the past four years DMCC has attracted more than 4,000 new companies to the Free Zone – 90 percent of which are new to Dubai. “In 2013 we have accelerated this growth, with an average of 200 new companies joining DMCC every single month.  This increased demand further demonstrates not only the confidence in DMCC and Dubai, but also underlines the need for new commercial space."