ICD BROOKFIELD PLACE

OVERVIEW

ICD Brookfield Place is a premium Grade A office and mixed-use development within the Dubai International Financial Centre (DIFC), developed by a joint venture between the Investment Corporation of Dubai (ICD) and Brookfield Asset Management. The tower comprises 54 floors and delivers over 900,000 square feet of Grade A office NLA, making it one of the largest single-building office destinations in DIFC. Completed in 2019, ICD Brookfield Place sets the current benchmark for institutional workspace quality within the precinct, with 3-metre floor-to-ceiling heights throughout that are comparable to prime London and New York Grade A stock.

OFFICE STOCK AND TENANT PROFILE

The development provides over 900,000 square feet of Grade A offices across multiple floors, with floor-to-ceiling heights of 3 metres throughout — a workspace standard that defines the upper tier of the DIFC Grade A market. Occupiers include global investment banks, international law firms, and major asset managers. Floor plates are large and efficient, supporting open-plan trading floor formats and multi-tenanted upper levels. Unit configurations range from sub-5,000 square foot boutique suites to multi-floor institutional occupancies exceeding 50,000 square feet contiguous. Best-in-class specification includes raised access floors, an advanced building management system, destination-controlled lifts, a ground-floor dining hall, extensive retail, and an active arts and culture programme within the public realm.

RENTAL MARKET

ICD Brookfield Place commands the highest achievable rents in DIFC, reflecting its scale, 3-metre ceiling heights, institutional ownership, and 2019 vintage. Achievable rents on premium floors are typically in the range of AED 280 to AED 380 per square foot per annum. Lease terms follow standard DIFC conventions of three to five years with structured escalation clauses. The development is the primary reference point for Grade A pricing in DIFC and serves as the benchmark against which all other DIFC leasing is assessed by institutional occupiers conducting market-wide comparisons.

SALES MARKET

ICD Brookfield Place is a single-ownership asset held by the ICD-Brookfield joint venture, with no strata sales market for individual office units. As a co-investment between a sovereign wealth vehicle (ICD) and a global institutional real estate manager (Brookfield), it represents the highest tier of DIFC investment-grade office asset by both ownership profile and building specification. Capital value reflects the building's scale, 2019 vintage, 3-metre ceiling heights, and position as the DIFC rent benchmark. The sovereign co-ownership structure provides long-term institutional stability.

LOCATION AND ACCESS

ICD Brookfield Place sits at the heart of the DIFC master plan, with pedestrian connections to Gate Village, Al Mustaqbal Street retail, and The Gate. Financial Centre Metro Station (Red Line) is accessible within a 5-minute walk, providing direct rail connectivity to Business Bay, Downtown Dubai, and Dubai Marina. Multiple vehicle access points connect to the DIFC road network and to Sheikh Zayed Road. Landscaped outdoor public realm spaces and direct connectivity to the DIFC pedestrian network are key differentiators. Multi-level basement parking is provided across the development.

RISKS AND WATCHPOINTS

At AED 280 to AED 380 per square foot, ICD Brookfield Place sits at the top of DIFC's rent range, which can be a limiting factor for cost-sensitive occupiers comparing it against mid-tier DIFC options. The arrival of DIFC Square (2026) introduces a new competitor at the top of the specification range, which may create selective pressure on rents and occupier retention at renewal for leases expiring in the near term. As a joint venture asset with institutional owners who optimise for market-rate returns, lease renewal terms and incentive packages will reflect prevailing market conditions. Prospective occupiers should confirm floor plate dimensions, specific unit configurations, and current lease terms directly with the ICD Brookfield leasing team. For occupiers already committed to the DIFC ecosystem, ICD Brookfield Place remains the definitive Grade A benchmark in the precinct.

STRATEGIC PERSPECTIVE

ICD Brookfield Place is the leading Grade A office building in DIFC by most objective measures: 3-metre ceilings, best-in-class specification, institutional management, and a position at the centre of the DIFC pedestrian network. For occupiers whose brief includes a premium DIFC address with the highest available workspace specification, it is the primary reference point in the submarket. The only direct competition is DIFC Square, which is newer but not yet proven at scale in terms of occupier experience. For occupiers already established at ICD Brookfield Place, the bar for relocating to DIFC Square needs to be set by a clear specification or cost differential that justifies the disruption.