Dubai Industrial City, the industrial and logistics hub, has announced a 59 percent increase in gross profits and 28 percent growth in revenue so far in 2015 compared to the same period last year.
Nearly 700 new companies from different segments of the industrial sector have joined the city this year, with a further 149 in the process of design or construction.
New business partners include consumer goods giant Unilever, Max Steel, Standard Carpet, Gorica, Al Barakah Dates, All New Gypsum, Emirates printing press, Fabtech, Al Reyami International Steel, Rasasi Al Shirawi, and Gulf Eternit Industries.
Commenting on the results, Abdullah Belhoul, CEO, Dubai Industrial City, said: “Our 2015 results largely mirror the performance of the industrial sector of the UAE and all the efforts made to grow and advance the sector as well as our own efforts to fulfil the market demand.
"Also, the relentless efforts of our incredibly dedicated team made Dubai Industrial City the preferred destination for more than 680 new companies. Given the additional considerable area of land under development, we are confident land leasing will continue to drive growth over the course of the year.
"This will be further compounded by the accelerating demand Dubai is witnessing not only for industrial facilities but also for warehousing solutions, labour villages, vocational training centres, and commercial space.”
The industrial sector contributes over 14 percent to the UAE's national GDP and is a core pillar of the country’s economic diversification policy.
Dubai Industrial City spans more than 55 sq km and is located next to the Al Maktoum International Airport and the Jebel Ali Port. The destination caters for industrial and logistics needs with specific emphasis on food and beverage, transport equipment and parts, machinery and mechanical equipment, logistics, chemicals, mineral products and base metals.For all the latest GCC news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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