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Fri 4 Sep 2015 09:26 AM

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Dubai's DuBiotech, EnPark see 20% rise in new companies

Plans to expand DuBiotech free zone office space by 500,000 sq ft to be completed next year

Dubai's DuBiotech, EnPark see 20% rise in new companies

The number of new business partners based in Dubai Biotechnology and Research Park (DuBiotech) and the Energy and Environment Park (EnPark) rose by a combined 20 percent in the year to July, it has been announced.

Forty-five new businesses joined the communities of DuBiotech and EnPark, located in Dubai's burgeoning growth corridor, Al Barsha South.

The number of companies in both business parks now totals 269, a statement said, adding that world renowned names such as Pfizer, Amgen, PepsiCo, Bayer, ThermoFisher, and First Solar are located within the free zone.

The free zones support both start-ups and international firms looking for a regional base for their Middle East or global operations.

In response to continued year-on-year increases in new business partners, plans were revealed last year for a new DuBiotech headquarters to be completed in 2016. The development will consist of two high-rise towers and provide over half a million square feet of office space.

Marwan Abdulaziz, executive director of DuBiotech and EnPark said: "New business partner growth at DuBiotech and EnPark continues to rise steadily each year, a feat that we are extremely proud of. Our business community is as active and vibrant as ever.

"The 45 new business partners we welcomed in the past year is a testament to our state of the art facilities and world class business communities. I expect demand to remain strong as the opening of our new headquarters in 2016 grows closer."

TECOM Investments announced last year an investment of AED4.5 billion as part of a broader Dubai National Innovation Strategy.

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