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Dubai Industrial City boosts regional presence via AED 410m land capacity expansion

Dubai Industrial City boosts regional presence via AED 410m land capacity expansion
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TECOM
TECOM
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Dubai – Mubasher: Dubai Industrial City, part of Tecom Group, has officially launched 13.90 million sq.ft of additional land capacity within its ecosystem, according to a press release.

The additional land capacity was acquired through a AED 410 million transaction that aims to boost local supply chains, reinforcing homegrown manufacturing in the UAE and Dubai.

Land occupancy at the manufacturing destination increased by 12% year-on-year (YoY) to reach 97% in the first quarter (Q1)of 2024.

The positive performance followed a period of sustained growth in 2023 when Dubai Industrial City’s ecosystem of customers grew by 17% to exceed 1,000 local, regional, and international heavyweights.

Saud Abu Alshawareb, Executive Vice President of Industrial at Tecom Group, stated: “The manufacturing sector is essential to accelerate the development of smart solutions that can pre-emptively solve tomorrow’s challenges, and nurturing its growth is essential to safeguard socio-economic growth that endures for generations.”

“Dubai Industrial City’s expansion is an embodiment of our commitment to enabling the industrial and logistics sectors not just in Dubai, but indeed the UAE and globally,” Alshawareb continued.

He indicated: “Guided by the vision of Operation 300bn, Make it in the Emirates, and Dubai Economic Agenda ‘D33’, we are well-attuned to the needs of our community and look forward to enabling further industrial brilliance and excellence through Dubai Industrial City’s expanded ecosystem for years to come.”

Over the past 18 months, Dubai Industrial City’s ecosystem has surged with the addition of international customers, including Indian pharmaceuticals giant Himalaya Wellness, which broke ground on an AED 200 million factory supported by a financing package from Emirates Development Bank (EDB).

Last week, Zambian company Neelkanth Cables Manufacturing LLC invested AED 130 million at Dubai Industrial City to launch a 503,000 sq. ft. facility to manufacture 20,000 MT of power cables annually.

During the inauguration ceremony to expand the plant, Dubatt signed a Musalaha agreement, raising its total investment to AED 216 million at Dubai Industrial City.

In October, Standard Carpets Industries inaugurated the Standard Turf factory to expand its operations with an investment of AED 600 million.

Meanwhile, the region’s leading manufacturing and logistics hub is participating in the Make it in the Emirates Forum, which kicked off at Abu Dhabi Energy Centre on 27-28 May.

Launched in 2004, Dubai Industrial City offers specialised infrastructure, including industrial land, storage, and logistics spaces across a sector-specific masterplan with dedicated zones for the base metals, machinery, minerals, food and beverage (F&B), transport, and chemical industries.