Dubai Industrial City set to see 15% growth in 2012

01/12/2011 - Dubai Investment News Posted by Bob Brunskill
Dubai Industrial City set to see 15% growth in 2012

Property investors looking for opportunities in the Middle East could be among those encouraged by the recent findings of a new report.According to its latest figures, Dubai Industrial City is expecting to see significant growth in the New Year.Indeed, a statement recently issued to Gulf News showed that the firm has now completed the infrastructure of its area following Dh588 million investment over the past four years.As a result of the funds, power, water, sewage, irrigation and telecom systems are now in operation across the 55 square-metre area the city covers.Abdullah Bel Houl, managing director of the City, told the news provider: "The City expects to see ten to 15 per cent growth in 2012 as industrial real estate picks up, investors seek Dubai for its safe haven status amid political turmoil in the region and the fast-growing food and beverage sector in the UAE expands further."The news comes shortly after a Mercer report named Dubai as the best place to live in the Middle East, beating Abu Dhabi into second place.