The Dubai Financial Market (DFM), the emirate’s main stock exchange, is to construct a new high-tech headquarters in Business Bay, ending its 16-year presence in the historic World Trade Centre. DFM is to seek tenders for the multimillion dollar building on land that has been given to it by the government-owned developer Dubai Properties, valued at AED231 million. Designers and architects will be asked to submit plans for the new project, which should be completed in three to four years. DFM has been considering a move to a new HQ for some time, weighing the attractions of Business Bay or a site within DIFC precincts. The quality of the Business Bay site, and issues of regulation, swung the decisions in its favor. (The National)