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Wed 16 May 2018 03:59 PM

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Dubai's TECOM hosts 5,600 firms after 2017 growth

Dubai Holding unit says it attracted nearly 500 new companies to its business parks last year

Dubai's TECOM hosts 5,600 firms after 2017 growth
Malek Al Malek, CEO of TECOM Group.

TECOM Group, a member of Dubai Holding, said it attracted nearly 500 new companies during 2017 across its 11 business parks in the emirate

TECOM Group, which emcompasses Dubai Internet City, Dubai Outsource City, Dubai Media City, Dubai Studio City, Dubai Production City, Dubai Knowledge Park, Dubai International Academic City, Dubai Science Park, Dubai Industrial Park, Emirates Towers Business Park and Dubai Design District, now has a total of 5,600 companies, employing more than 90,000 people from 162 nationalities.

It said in a statement that it also maintained a high occupancy rate of more than 86 percent across its sites.

Abdulla Al Habbai, chairman of Dubai Holding, said: “TECOM Group is at the forefront of national institutions that support Dubai’s efforts to transform into a knowledge-driven economy, and supporting Dubai’s GDP growth.”

Malek Al Malek, CEO of TECOM Group, added: “TECOM Group continues its strong year-on-year performance... Our efforts are in line with Dubai Holding’s strategic direction, which focuses in addressing the market's growing needs, increase the contribution of non-oil economic sectors to the GDP and establish digital transformation enablers to make Dubai the smartest city in the world.

"Our efforts have significantly strengthened Dubai's position as a global economic hub. We will continue to promote the emirate as a key destination for business and innovation.”

TECOM is set to complete several key development projects in 2018, including the regional HQ of tech giant Huawei in Dubai Internet City.

This year will also see the completion of development work at the Innovation Hub phase 1 in Dubai Internet City that aims to accelerate the transformation of Dubai into a smart city while works on the headquarters of Dubai Science Park have entered their final stages.

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