DIC attracts 212 new companies in 2012
Dubai, March 5, 2013
Dubai Industrial City, a member of Tecom Investments, attracted 212 new companies during 2012, marking an increase of 82 per cent in the number of new companies that opted to use its various industrial real estate services and facilities on offer by the top industrial hub in Dubai.
The total number of companies in the industrial city grew from 259 to 471 during the 12 months period, said a Tecom statement.
One of the largest specialised hubs in light to medium manufacturing sectors in the emirate, Dubai Industrial City, also witnessed a growing demand for industrial land, as a growing number of industrial investors such as Othman Mohamed Sharif, Al Barakh Dates Factory, and Interpro Wood Industries have leased more than 5 million sq ft of industrial land in 2012.
This marked a 14 per cent growth in companies in the industrial city, compared to 2011, said a statement from Dubai Industrial City.
The warehouse occupancy rate also increased to reach 82 of a total of 7 million sq ft of storage facilities available in the city, in addition to a 100 per cent occupancy rates recorded in the city’s 3 million sq ft of open storage lands, it added.
“Achieving high growth rates in 2012 emphasises that Dubai Industrial City continues to be an attractive industrial and logistic hub for local and regional companies. It also stresses on the importance of the industrial sector, being the second largest contributor to the total GDP of the UAE," said its managing director Abdullah Belhoul.
“We have recently signed an MoU with the Ministry of Economy to support the industrial sector and increase the co-operation between both of our organizations, as well as with the private sector to drive the economic diversification process and enhance the business and investment environment in line with Vision 2021," he noted.
"We expect the MoU to contribute to the development of the industrial sector and the UAE economy. It also positions Dubai Industrial City as a preferred destination for the industrial and logistics sector at the local and regional levels,” said Belhoul.
"A large number of local and regional companies chose it as a preferred destination for their storage and logistical facilities, including Juma Al Majid Group, Home Centre, Al Gurg Unilever and Al Futtaim Logistics, which have occupied a combined area of more than 940,000 sq ft of warehouses in the city," he added.-TradeArabia News Service
More Industry, Logistics & Shipping Stories
- Morocco revives plan to sell stake in port operator
- Sabic opens new $126m research facility
- UAE women entrepreneurs set for growth
- Major cruise liner docks at Abu Dhabi port
- MAG boosts Iraq shipping capacity by 60pc
- Sabic to distribute $2.4bn dividends in H2
- Pearl diving 'regains popularity' in Bahrain
- AerCap to buy AIG aircraft leasing unit for $5.4bn
- Safco to pay $1.6 per share cash dividend
- UAE ranked 17th globally for merchandise export