Dubai's TECOM shakes up real estate business

Dubai Holding unit announces new operational structure to 'capitalise on emirate's growth prospects'
Dubai's TECOM shakes up real estate business
By Andy Sambidge
Wed 22 May 2013 08:28 AM

TECOM Investments, a wholly-owned subsidiary of Dubai Holding, has announced a new operational structure it says will help it develop further its business parks.

The company said in a statement that the implementation of the new structure would ensure it was "strongly positioned to capitalise on Dubai's future growth prospects".

Under the new structure, TECOM Investments' real estate business will be segmented into three verticals.

These will be TECOM Development & Planning (Land, Infrastructure and Building Development); TECOM Freezone Business Parks; and Dubai Industrial City.

Dr Amina Al Rustamani, Group CEO of TECOM Investments, said: "The region's economic outlook looks promising and we are entering the next phase of Dubai's impressive growth story.

"We need to be prepared for this opportunity and with this new company structure we will have clear ownership of each of the key success factors and processes to drive business stability and growth."

Badr Al Gargawi is now CEO of TECOM Development & Planning where he will manage matters relating to land, infrastructure and building development, the statement said.

Gargawi will be responsible for all master planning, construction, infrastructure, and engineering development in TECOM Investments.

Malek Sultan Al Malek is now CEO of TECOM Freezone Business Parks and will be responsible for all TECOM Investments' free zone assets comprising Dubai Internet City, Dubai Outsource Zone, Dubai Media City, Dubai Studio City, International Media Production Zone, Dubai International Academic City, Dubai Knowledge Village, DuBiotech and ENPARK.

Abdulla Belhoul is now CEO of Dubai Industrial City and will continue to be responsible for TECOM Investments' onshore assets comprising offices, logistics facilities, labour accommodation, and industrial land in Dubai Industrial City.

TECOM's business parks are currently home to over 4,500 companies, which range from major multinationals to local start-ups and small firms.

For all the latest business 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.