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Sat 2 Nov 2019 01:17 AM

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20 years on: the impact of Dubai Internet City

Dubai Internet City started as a vision announced by ruler Sheikh Mohammed in October 1999 to anchor the emirate as the regional technology hub

20 years on: the impact of Dubai Internet City

The success of Dubai Internet City was the first which led to the foundation for TECOM Group.

Dubai Internet City is celebrating its 20-year anniversary, after starting as a vision announced by Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai in October 1999 to anchor the emirate as the regional technology hub.

The success of Dubai Internet City was the first which led to the foundation for TECOM Group.

Fast forward 20 years, the group has 10 sector-focused business communities in Dubai that are home to over 6,500 businesses and more than 95,000 professionals.

In addition to Dubai Internet City, these business communities are Dubai Media City, Dubai Knowledge Park, Dubai International Academic City, Dubai Production City, Dubai Studio City, Dubai Outsource City, Dubai Science Park, Dubai Design District, and Dubai Industrial City.

TECOM, a member of Dubai Holding, is a major contributor to the rapid growth of Dubai’s knowledge and innovation-based economy and the transformation of the Emirate into a magnet for some of the world’s top companies and talent.

Dubai Internet City firms attract over $2.1bn since hub's launch

Senior exec says business hub is playing key role in contributing to the UAE's technology journey

TECOM Group’s CEO, Malek Al Malek, said: “We started as a vision of His Highness and two decades later, we are proud to be a key economic contributor to the inspiring story of Dubai. In the past 20 years, we have successfully attracted thousands of businesses across core sectors, proving at the same time that we are a bedrock for homegrown innovation.”

Having set the scene for the region’s rapidly growing start-up ecosystem, Dubai Internet City is also home to the biggest success stories that have inspired the region, such as the Careem-Uber deal, the Amazon acquisition of e-commerce marketplace Souq, and the funding deal of Anghami.

Al Malek added: “To further drive innovation, productivity and economic growth in Dubai, we are on a mission to set new world benchmarks when it comes to doing business. As our ecosystem matures, we foresee more innovations and local success stories coming out of our communities and soaring to global recognition."

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