Dubai Industrial City revenues rise 33% in 2013

Increase driven mainly by land leases and warehouse leases, according to new figures
Dubai Industrial City revenues rise 33% in 2013
Abdullah Belhoul, CEO of Dubai Industrial City.
By Andy Sambidge
Fri 21 Mar 2014 10:37 AM

Dubai Industrial City, a member of TECOM Investments, saw revenues increase by 33.2 percent as leasing activity of warehouses and land soared, it was announced on Wednesday.

According to official figures, earnings before interest, taxes, depreciation, and amortization (Ebitda) registered growth of 67.1 percent compared to the previous year.

The increase in revenue was driven mainly by land leases and warehouses leases, which registered an increase of 44.1 percent and 51.6 percent respectively.

Dubai Industrial City attracted 158 new companies in 2013, a statement added.

Strong results were also achieved in all products in Dubai Industrial City, where the new industrial land leases grew 4 times more than last year. Warehouse occupancy rate reached 91 percent and labour villages' occupancy rate reached 79 percent in 2013.

Abdullah Belhoul, CEO of Dubai Industrial City, said, "Growth in Dubai Industrial City continues to stress on the industrial sector success story in the UAE, where the sector contributes with 10-14 percent to the national GDP.

"This growth trend is expected to continue, driven by industrial land leases, and we will continue to see a growing number of factories becoming operational this year. Investing in infrastructure and new assets will continue to be essential for us, in order to sustain this growth in the coming years," he added.

Last month, Dubai Industrial City announced the launch of a dedicated Halal Cluster as part of plans by Dubai to become the global capital of the Islamic economy.

The cluster is a dedicated base for halal manufacturing and logistic companies in food, cosmetics, and personal care industries and is spread across nearly 6.8 million sq ft.

The move has been taken in collaboration with Dubai Islamic Economy Development Centre, Emirates Authority for Standardisation and Metrology (ESMA) and Dubai Municipality.

For all the latest industry 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.

Subscribe to our Newsletter

Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.