TECOM Group is Key Driver in Achieving Dubai’s Economic Diversification Vision

(5/17/2018 2:40:00 AM)

TECOM Group, a member of Dubai Holding, continued to show strong performance and sustainable growth in 2017, playing an integral role in Dubai’s diversification plan and consolidating its position as a global business hub. TECOM Group plays a critical role in developing six vital non-oil sectors, including information technology, media, science, education, design and manufacturing, through establishing state-of-the-art infrastructure, a robust legislative environment and effective business solutions. TECOM Group also focuses on entrepreneurship and SMEs to help local companies pave the way to global expansion. In line with the Group’s support for developing and empowering national talent across various economic sectors, its business parks today are led by a distinguished senior Emirati team.

TECOM’s 11 business parks – Dubai Internet City, Dubai Outsource City, Dubai Media City, Dubai Studio City, Dubai Production City, Dubai Knowledge Park, Dubai International Academic City, Dubai Science Park, Dubai Industrial Park, Emirates Towers Business Park and Dubai Design District – attracted over 480 new business partners in 2017, bringing the total number of companies to 5,600. Employing more than 90,000 people from 162 nationalities, TECOM Group’s business communities also maintained a high occupancy rate of more than 86 per cent. The Group hosted over 900 technology, education, design, media, science and industry events over the past year, boosting the growth of vital economic sectors that drive Dubai’s economic diversification.

Speaking on last year’s outstanding performance, His Excellency Abdulla Al Habbai, Chairman of Dubai Holding, said: “Guided by the vision of our wise leadership, Dubai Holding continues to play a pivotal role in furthering Dubai’s and the UAE’s economy. The Group plays a key role in achieving the economic aspirations of the Emirate by developing vital non-oil sectors including hospitality, tourism, media and design. TECOM Group is at the forefront of national institutions that support Dubai’s efforts to transform into a knowledge-driven economy, and supporting Dubai’s GDP growth.”

Directions

Malek Al Malek, CEO of TECOM Group, said: “Under the leadership of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, TECOM Group continues its strong year-on-year performance, in line with the integrated plan for Dubai Plan 2021. Our efforts are in line with Dubai Holding’s strategic direction, which focuses in addressing the market's growing needs, increase the contribution of non-oil economic sectors to the GDP and establish digital transformation enablers to make Dubai the smartest city in the world."

He added:" Over the past two decades, the Group has created a business experience that is unprecedented in its integration and ability to provide an attractive environment for enterprises from across the world. Our efforts have significantly strengthened Dubai's position as a global economic hub. We will continue to promote the emirate as a key destination for business and innovation.

“TECOM Group’s first business community Dubai Internet City was launched in 1999 amid a radical transformation of the global economy and a rapid rise of economic concepts that have changed the international landscape, such as globalisation of trade, industry and knowledge economy, and enabling entrepreneurship and e-commerce. From the outset, the purpose of the Group was not only to keep pace with these transformations, but also to envisage the future and contribute to consolidating Dubai's status as a global success story.”

SECTOR-WISE ACHIEVEMENTS

Since its inception, TECOM Group has been providing the necessary supportive business setup landscape, enabling environment and integrated infrastructure that constantly evolves, allowing its partners to innovate, grow and expand into the wider region.

Today, TECOM Group continues to support Dubai’s strategy of competitiveness and excellence. The Group is focusing on the development of its current and future projects that provide an integrated business environment for global entrepreneurs, strengthening Dubai’s position as a hub for a diversified, sustainable and resilient businesses and investments.

Technology is the first economic sector developed by the Group. At the forefront of this sector is Dubai Internet City (DIC), one of the largest information and communications technology (ICT) business parks in the Middle East and North Africa, and the home to world-renowned corporations, including listed Fortune 500 companies; in addition to Dubai Outsource City, a specialised outsourcing hub. The two communities boast a combined total of 1,600, ranging from major international corporations to small and medium-sized businesses and entrepreneurs, employing 34,000 professionals.

Since its inception, DIC has been shaping the tech business landscape in the region, diversifying the economy and promoting Dubai as a global destination that spearheads digital transformation and provides a conducive ecosystem for world-class companies and innovation centres. Leading multinational corporations that have chosen to call DIC home include Google, Facebook, IBM, Microsoft, Oracle and Snapchat.

Over the years, DIC’s business partners have secured investments from local and international investors totalling AED7.8 billion (US$2 billion). Some of the partners commenced operations as small-scale startups prior to becoming runaway success stories with DIC’s support.

Dubai Internet City is now home to 11 innovation centres including Cisco and SAP.

The education, training and HR sector, represented by Dubai International Academic City (DIAC) and Dubai Knowledge Park (DKP), is one of the key pillars of Dubai’s transition to a knowledge-based economy. The two business communities account for 500 companies in the field of education and professional development with over 5,300 employees.

DIAC is home to 27 universities, including 22 international campuses of renowned educational institutions from across the globe, catering to 25,000 students from 150 nationalities.

In 2017, the University of Birmingham opened its campus in DIAC, becoming the first educational institution based in Dubai to rank among the top 100 universities in the world. Other international institutions that DIAC welcomed to its fold last year include BMI Media and Curtin University.

Design is one of the most prominent economic sectors that are gaining momentum in Dubai. Hosting a creative workforce over 8,000-strong, Dubai Design District (d3) has become one of the premier art, fashion and architecture hubs in the region. Housing 500 of TECOM Group’s business partners, d3 is also an entertainment and art destination with a portfolio of popular events to its credit, including Dubai Design Week, Fashion Forward and Sole DXB. Key global fashion houses that have joined d3 include Chanel, Dior, BOSS, and Burberry. The Dubai Institute of Design and Innovation (DIDI) opened registration for its programmes that were developed jointly with Massachusetts Institute of Technology (MIT) and Parsons Design School. The business community has also laid the foundation for the iconic Mercedes Benz Tower that will accommodate the automobile manufacturer’s regional corporate headquarters, branches and showrooms.

Dubai Media City, Dubai Studio City and Dubai Production City represent the dynamic media arena with a focus on creative industries such as advertising, filmmaking and production. Companies based here, including CNN, BBC, Discovery Networks, YouTube Space and Disney, employ over 34,500 people and make up the largest share of TECOM Group’s business partners – 2,000 in total.

Media Office Dubai