Dubai, United Arab Emirates - Saturday, May 2nd 2015 [ME NewsWire]
TECOM Investments, a member of Dubai Holding and operator of Dubai’s leading industry-focused business communities, has announced 2014 as a record year for growth.
Over the year, TECOM Investments welcomed more than 800 new business partners and enabled 380 expansions across its 11 business communities. The positive performance brings the total number of businesses operating to more than 4,650, supporting a workforce of 74,000 across its six industry sectors of ICT, Media, Education, Science, Industry, and Design, Fashion, Art & Luxury.
Customer loyalty remains high with TECOM reporting high retention rates of 95 per cent across its business communities. Over 30 per cent of its business partners have been located within TECOM’s communities for a decade or more, and occupancy across Dubai Internet City (DIC), Dubai Media City (DMC) and Dubai Knowledge Village (DKV) remains high at 95 per cent, demonstrating the popularity of these areas.
New developments will cater to TECOM’s growing community
TECOM Investments announced an investment of AED 4.5 billion as part of its alignment with Dubai’s National Innovation Strategy. This investment amount will fund the creation of Dubai Internet City’s Innovation Hub, which will provide 1.6 million sq. ft. of dedicated space to 15,000 knowledge workers, and Dubai Design District’s pioneering Creative Community, which will provide a dynamic destination covering 1 million sq. ft. for emerging designers, artists, and other creative workers.
In direct response to its growing communities and increased market demand, TECOM Investments announced new developments and the delivery of key projects in 2014, including: The Butterfly, a two tower development located in the heart of Dubai Media City; the DuBiotech Headquarter Building, which comprises commercial space and retail units; and, the Publishing Pavilion and Makateb in International Media Production Zone (IMPZ).
As part of its commitment to deliver sustainable, holistic communities, TECOM launched Villa Lantana, a 440-villa residential community located in Al Barsha. Sales for the first phase have been robust and ahead of target, adding significant value to TECOM’s portfolio.
Exciting new partnerships and projects
TECOM Investments is at the forefront of the Government’s new visions, strategies and plans to promote sustainability, cement Dubai’s position as a Smart City, and strengthen its position as a global capital of the Islamic Economy.
This has been demonstrated by the appointment of Dubai Design District (d3) as the official greenfield development site for Dubai’s Smart City initiatives, the launch of a dedicated ‘Halal Cluster’ in Dubai Industrial City, and partnerships with Dubai Electricity and Water Authority (DEWA) to provide electric vehicle charging infrastructure, smart meters and grids.
Commenting, Dr Amina Al Rustamani, Group CEO of TECOM Investments said:
“Our pioneering communities continue to attract new business partners and facilitate expansions, as demonstrated by our strong annual results. Over the course of the year, we introduced several enhancements to our services for the benefit of our business partners, with a view to making running their businesses easier and more efficient. We also implemented a series of exciting new developments and initiatives that will support future growth and help to drive Dubai’s transition into an innovation-led economy.
“Over the next ten years, we will increase the workforce located in our communities from 74,000 to 100,000, grow our business partner base to 10,000 companies, and provide an additional 10 million sq. ft. of office space, resulting in a total of 16 million sq. ft. of dedicated space across Dubai’s prime business locations.”
Through its new strategy announced at an event to mark Dubai Internet City’s 15th anniversary in October 2014, TECOM Investments will contribute to Dubai’s transition to a Global Innovation Hub. This strategy includes a renewed focus on developing smart, sustainable infrastructure; making doing business easier; attracting talent and investing in human capital; supporting start-ups; fostering dynamic industry ecosystems, and activating a vibrant community.
Significant improvements to enhance the overall experience of TECOM Investments’ business communities were also announced as part of this new strategy, including wellness facilities such as running tracks, bike paths and clean transportation technologies across Dubai Internet City, Dubai Media City and Dubai Knowledge Village, the introduction of incubators, similar to Dubai Internet City’s in5 innovation centre across all sectors, and support for small businesses and start-ups from across the region.
About TECOM Investments
TECOM Investments, a member of Dubai Holding, owns and operates 11 world class industry-focused business parks, and provides a home in the Gulf to over 4,650 businesses across six industry sectors. TECOM Investments’ business partners range from major multinationals to local start-ups and small firms, and represent a total workforce of 74,000.
TECOM Investments is fully aligned with the Dubai Vision 2021 and is a frontrunner in delivering the Emirate’s Innovation Strategy through six key pillars. These pillars include the development of sustainable, smart infrastructure, making doing business easier, attracting talent and investing in human capital, supporting start-ups, establishing dynamic industry ecosystems and activating a vibrant community.
TECOM’s free zone business parks, which feature purpose built facilities and industry specific infrastructure, include: Dubai Internet City and Dubai Outsource Zone, together forming an ICT Cluster; Dubai Media City, Dubai Studio City and the International Media Production Zone, which make up a Media Cluster; Dubai Knowledge Village and Dubai International Academic City, combining to create an Education Cluster; and DuBiotech and EnPark, which comprise the Science Cluster.
Dubai Industrial City is TECOM’s non-free zone business park dedicated to the manufacturing and logistics industry. Spread across 55 square kilometers (560 million square feet), Dubai Industrial City is the second largest non-real estate project in Dubai.
Dubai Design District, better known as d3, is dedicated to fostering the growth of the Emirate’s design, fashion and luxury industry. It offers businesses, entrepreneurs and individuals a creative community that will be at the very heart of the region’s design scene. d3 is the newest of TECOM Investments’ free zone business parks with 11 buildings currently under construction; Phase I launched in April 2015. Once complete, d3 will be a purpose built environment catering to the full value chain of the design, fashion and luxury industry.
TECOM Investments also features a number of pure play companies, including Arab Media Group, a leading UAE media and entertainment organisation which manages Global Village, Arabian Radio Network (ARN) and Done Events.
Alexa Hooft Graafland