Dubai Industrial City revenue up 33pc
Dubai, March 19, 2014
Dubai Industrial City, a Tecom Investments’ unit, posted a 33.2 per cent increase in revenue last year.
The increase in revenue was driven mainly by land leases and warehouses lease, which registered an increase of 44.1 per cent and 51.6 per cent respectively, said a statement.
The city saw 158 companies added to its occupancy list last year, where new industrial land leases grew four times more than last year.
The warehouses occupancy rate reached 91 per cent and labour villages occupancy rate reached 79 per cent, it said.
Abdullah Belhoul, CEO of Dubai Industrial City, said: “Growth continues to stress on the industrial sector success story in the UAE, where the sector contributes with 10-14 per cent in the national GDP. The increase we have witnessed in 2013 also highlights our efforts in meeting the demand in this industry and our vision to provide a highly competitive platform for growth in the manufacturing and logistics sector in the UAE."
"Growth trend expected to continue, driven by industrial land leases, and we will continue to see a growing number of factories becoming operational this year. Investing in infrastructure and new assets will continue to be essential for us, in order to sustain this growth in the coming years,” he said.
According to the latest research from real estate consultancy Cluttons, the industrial market was bolstered by an improved economic climate, the successful win of Expo 2020, and the launch of passenger services at Al Maktoum International Airport.
A large number of local and regional companies chose Dubai Industrial City as a preferred destination for their operations, where a total number of 111 customers started constructions of their factories, and 10 new factories became operational.
The city supports a wide variety of sectors covering the majority of the manufacturing industry’s requirements, especially in light to medium manufacturing sectors with specific emphasis on machinery and mechanical equipment, transport equipment and parts, base metal, chemicals, food and beverage, mineral and recently halal products.
“The newly established Halal Cluster in Dubai Industrial City stems from our ambition to act as a true enabler of Dubai’s ambition to become the global capital of the Islamic economy. With the support of Standards Department at Emirates Authority for Standardization and Metrology (ESMA), and Accreditation Department at Dubai Municipality, we have succeeded in creating a dedicated platform for companies and investors with halal operations in the UAE,” Belhoul added. - TradeArabia News Service