Business Booms at Dubai Internet City

20/02/2011 - Dubai Investment News
Business Booms at Dubai Internet City

2010 was another year of positive growth for Dubai Internet City (DIC), with 150 new companies choosing to set up base in the commercial free zone. DIC also saw 48 of its business partners expand their operations in the region. The sectors that saw the most new additions in DIC over the last year were telecommunications and networking, software, internet and multimedia. Several top brands also opened offices one of DIC’s business parks, including Cable and Wireless Europe, Pitney Bowes Software, China Communication Service and Versata. Global conglomerates such as the BBC, Sony, Microsoft, IBM and Reuters also have a presence in either DIC, or the surrounding areas of Dubai Media City and Knowledge Village.

This positive growth trend for DIC is forecast to continue into 2011, as enterprise spending in the Middle East, Europe and Africa – the MENA region – rises by 1.3% in 2010 to top an impressive $795.2 billion. DIC is located directly opposite the bustling business district of Tecom, which was set up to serve the free zone, in addition to Media City and Knowledge Village. Tecom is also home to The First Group’s two hotel apartment projects, Metro Central and Grand Central, which are strategically located within easy reach of the city’s major business zones.