Tech free zones report sharp upturn in demand

09/04/2013 - Dubai Investment News Posted by Bob Brunskill
Tech free zones report sharp upturn in demand
Leaders of two of Dubai's leading technology business parks have confirmed the demand for tenancies in the area is spiralling upwards.Dubai Internet City (DIC) and Dubai Outsource Zone (DOZ) reported growth of 15 per cent in 2012, with 160 companies signing up for office space in one of the two clusters throughout the year.Some of the world's most recognisable technology firms increased their presence in the Middle East in the last 12 months and it is no shock to learn that DIC and DOZ chiefs are very optimistic about the future."2012 was a particularly strong year for our cluster. Not only did we welcome some of the industry's biggest players such as Facebook, LinkedIn and Interglobe, we also saw the expansion of existing partners," commented Malek Al Malek, managing director of both free zones.Mr Al Malek added that he was particularly keen to help small and medium-sized enterprises (SMEs) that have moved into the parks to flourish."The support and nurturing of SMEs and entrepreneurs has also been a key area of focus for us in 2012 and will continue to be in 2013," he continued.Dubai has quickly emerged as an important global hub when it comes to technology.A number of high-profile exhibitions and conferences held by leading organisations such as Gartner have been staged in the emirate in recent years and the Middle East is a market that technology providers can no longer afford to ignore.Last month, senior figures at the Dubai Silicon Oasis Authority revealed that the park brought in profits of  AED 165.4 million last year, which was a 26 per cent improvement on 2011.Chairman of the park Shaikh Ahmad Bin Saeed Al Maktoum said there had been a "strategic effort" to attract the biggest and best multinational corporations to the Gulf.All told, 711 companies operate from the Dubai Silicon Oasis and this number is expected to rise sharply in the coming years.