Dubai International Financial Centre has unveiled Water Gardens, a mixed-use development worth Dh5.14 billion at the heart of the financial district. The project carries a price tag of $1.4 billion and construction has already started on site.
Water Gardens will comprise four buildings that will house two hotels, residential units and office spaces. H&H Development is leading the project, which has been designed by architect David Chipperfield. The entire development is scheduled for completion in 2028.
The branded residences within the project have proven popular with buyers. Around 85 per cent of these units have already sold at prices exceeding Dh8,000 per square foot. The strong sales performance comes even before the project reaches completion.
One of the hotels planned for Water Gardens will add 154 rooms to the area. That same hotel building will also contain 40 residential units. The mix of hotel rooms and residences reflects the broader mixed-use nature of the development.
H&H Development plans to retain ownership of Eden House, a building within the Water Gardens complex that will contain 132 apartments. The developer will keep Eden House as a rental-income asset rather than selling the units. This approach allows H&H to maintain a long-term stake in the project while generating recurring revenue from tenants.
The Water Gardens development sits in the heart of Dubai International Financial Centre, positioning it within one of the emirate's key business districts. The location gives future residents and office workers direct access to the financial hub. The project adds to the growing number of mixed-use developments that combine residential, hospitality and commercial elements in a single location. By 2028, the four buildings will reshape part of the DIFC skyline.
Source
DIFC Unveils Dh5.1 Billion Water Gardens Project with Hotels, Homes, and Offices (Gulf News)
