Dubai Industrial City continues to expand
An increasing number of companies are setting up new bases in the UAE, with many of them choosing to establish themselves at the all-important Dubai Industrial City.New figures have shown that an extra 212 organisations secured commercial space in this part of the emirate in 2012, taking the total to 471.This was an impressive rise of 82 per cent and is a clear indication that Dubai is fast becoming a global corporate hub.Dubai Industrial City is one of the largest specialised centres for light and medium manufacturing in the city and the facility's warehouse occupancy rate has now grown to 82 per cent.Managing director of the complex Abdullah Belhoul said the organisation had signed an agreement with the UAE Ministry of Economy in order to support the industrial sector in the Middle Eastern country."We expect the memorandum of understanding to contribute to the development of the industrial sector and the UAE economy," he remarked."It also positions Dubai Industrial City as a preferred destination for the industrial and logistics sector at the local and regional levels."A number of local companies, including Home Centre, Al Gurg Unilever, Al Futtaim Logistics and Juma Al Majid Group have all moved into the industrial centre - occupying 940,000 square feet in total.Mr Belhoul added that business prospects are really looking up in the city."Dubai is currently witnessing a visible economic recovery, which demonstrates investors' confidence in the economy of the emirate and the whole UAE," he stated.There has been a flurry of investment activity in the emirate over the past 12 months, with a lot of money coming in from overseas.The National reported last month that blue chip companies based in the city have received AED 580 million of fresh investment since the start of 2013.As a result, Dubai's DFM General Index increased by 17 per cent in the first two months of the year and there are very few other markets around the world that can match this level of performance.