ABCN attracts 64 foreign firms in 2012

28/01/2013 - Dubai Investment News Posted by Bob Brunskill
ABCN attracts 64 foreign firms in 2012

Bosses at the Alliance Business Centers Network (ABCN) have confirmed the organisation attracted 64 new foreign firms to its branches in Dubai Silicon Oasis and Dubai Business Village last year.The group revealed that AED 220 million worth of investments were made in 2012, which was an impressive 30 per cent increase on 2011, AMEinfo reports.ABCN chairman Osama Salman said the sharp upturn in demand for business space reflects the growing belief that the Middle East is a fantastic place to set up a new base.Overall, 42 per cent of new acquisitions came from Asia, while 31 per cent were from Europe.Around one in five of the new firms hailed from Africa and six per cent were based in the US.Most of the new businesses were from the trade sector and there was also strong demand from the marketing and management consulting industry.Tellingly, nearly one in four enterprises were technology specialists, which highlights Dubai's growing status as an epicentre for the very latest advancements.Mr Salman said the launch of numerous mega-projects - such as the Mohammed Bin Rashid City development - has sent a clear message to the world that "Dubai's ambition knows no boundaries"."Alliance Business Centers strives to attract foreign companies that can contribute effectively with their vast experience and investments in the development of strategic sectors within Dubai's economic system," he was quoted as saying.ABCN president for the Middle East and North Africa Sherif Kamel added that the immense business opportunities provided by Dubai have helped to set the emirate apart from its rivals."The Centers offer integrated services for establishing a business and providing technical and administrative support for tenants' operations," he reportedly remarked.News of ABCN's success comes shortly after leaders of the Dubai Investments Park released their performance figures for 2012.They confirmed there had been an 87 per cent increase in the demand for commercial space when compared to the previous year.