Al Ahli Holding Group plans-faceted and all-inclusive incubator and accelerator model
Al Ahli Holding Group will build a one million square foot entrepreneur and media hub in Dubai to help grow, incubate and fund talent, the company announced on Monday.
The ‘Nomad’ project will be located close to the Echo Plex off Al Ain Road, and will include flexible office and working spaces, as well as art studio and makerspaces, and one of the largest 3D printing facilities in the world.
Additionally, the facility will boast subsidised co-living arrangements, enabling members to live economically while focusing their efforts on growing their business.
According to Al Ahli, the project will enable homegrown and foreign SMEs and start-ups to develop and nurture their businesses by reducing operating costs and by attracting the international business community.
“The sheer size, scope and proposition of Nomad will put the UAE on the map as a global game changer when it comes to the type of creative, disruptive and outstanding entrepreneurship that will guarantee a bright, thriving future for generations to come,” said Al Ahli CEO Mohammed Khammas.
Khammas added that the project will “make it entirely feasible, for both local people and those from outside the UAE with fantastic business ideas and talent to put down roots here and see their company grow.”
The project’s infrastructure will be developed over a two-year period, with the first phase – the hub of co-working and studio space and a pilot co-housing community - set to launch by the end of 2018.
“Nomad will be a prospering collaborative community where people can see their ideas and dreams come to life,” said Al Ahli chief executive architect Noora Khammas. “They will not only work but also live alongside other talented individuals who share a common objective.”
“The hassle and obstacles inherent in setting up a business and running it during the early years are taken away, while opportunities that would not normally be available, such as reduction in operational costs or access to specific niche markets, are automatically provided,” she added.
“That is a big deal because in the normal run of business, that process can take many years, hindering progress and dampening aspiration.”