DUBAI – Dubai Industrial City, a member of TECOM Investments, attracted 212 new companies in 2012 marking an increase of 82 percent in the number of new companies that opted to use the various industrial real estate services and facilities on offer by the leading industrial destination in Dubai, as companies in the City grew from 259 to 471 during the 12 months period. Dubai Industrial City, which is one of the largest specialized hubs in light to medium manufacturing sectors in Dubai, has 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 square feet of industrial land in 2012, marking an increase of 14 percent in industrial companies in the City compared to 2011. Warehouse occupancy rate has also increased to reach 82 percent of a total of 7 million square feet of storage facilities available in the city, in addition to a 100 percent occupancy rates recorded in the city's 3 million square feet of open storage lands. Abdullah Belhoul, Managing Director of Dubai Industrial City, said: “Achieving high growth rates in 2012 emphasizes 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 United Arab Emirates.” Belhoul added: “We have recently signed a memorandum of understanding (MOU) with the UAE Ministry of Economy to support the industrial sector and increase the cooperation 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. 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.” Belhoul pointed out that Dubai is currently witnessing a visible economic recovery, which demonstrates investors' confidence in the economy of the Emirate and the whole UAE. “With the wise vision of its leadership, the UAE has proven to be one of the preferred global investment destinations among all sectors, despite any global economic climate or changes. We expect a growth in the demand from local and regional companies for industrial products and various services offered by Dubai Industrial City in the coming few years. These companies are actually benefiting from the overall growth of the local economy and the industrial sector. Belhoul also stressed that Dubai Industrial City business partners acknowledge and praise the efforts of government entities that enable industrial companies in the city to play a leading role in the diversification of the UAE economy, and providing all the facilities and support to Dubai Industrial City, making it an ideal platform for them. A large number of local and regional companies chose Dubai Industrial City 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 square feet of warehouses in the city. Designed according to the highest standards of safety and security and offering two types of storage units of 5,000 and 10,000 square feet per warehouse, the storage facilities in the City can also be utilized as workshops for light Industrial use, or to meet various storage requirements, such as low temperatures, chemicals, as well as general storage. Dubai Industrial City is considered the largest industrial real estate project in Dubai and is spread across 55 square kilometers (560 million square feet) of land. The industrial destination was established to serve as a catalyst for the growth and expansion of the industrial sector in the United Arab Emirates - with specific emphasis on machinery and mechanical equipment, transport equipment and parts, base metal, chemicals, food and beverage and mineral products. — SG
