Dubai: Tecom Investments, a member of Dubai Holding, announced its 2014 results on Saturday, which showed it had welcomed 800 new business partners and enabled 380 expansions across its 11 business communities. This performance brings the total number of businesses operating to more than 4,650, supporting a workforce of 74,000 across its six industry sectors of ICT, Media, Education, Science, Industry, and Design, Fashion, Art & Luxury.
“Our pioneering communities continue to attract new business partners and facilitate expansions, as demonstrated by our strong annual results,” said Dr Amina Al Rustamani, Group CEO of Tecom Investments, in a statement released on Saturday. “Over the course of the year, we introduced several enhancements to our services for the benefit of our business partners, with a view to making running their businesses easier and more efficient. We also implemented a series of exciting new developments and initiatives that will support future growth and help to drive Dubai’s transition into an innovation-led economy.”
Tecom reported retention rates of 95 per cent across its business communities. Over 30 per cent of its business partners have been located within Tecom’s communities for a decade or more, and occupancy across Dubai Internet City (DIC), Dubai Media City (DMC) and Dubai Knowledge Village (DKV) remains high at 95 per cent.
Tecom Investments announced an investment of Dh4.5 billion as part of its alignment with Dubai’s National Innovation Strategy. This investment amount will fund the creation of Dubai Internet City’s Innovation Hub, which will provide 1.6 million square feet of dedicated space to 15,000 knowledge workers, and Dubai Design District’s pioneering Creative Community, which will provide a dynamic destination covering 1 million sq ft. for emerging designers, artists, and other creative workers.
Tecom Investments announced new developments and the delivery of key projects in 2014, including: The Butterfly, a two tower development located in the heart of Dubai Media City; the DuBiotech Headquarter Building, which comprises commercial space and retail units; and, the Publishing Pavilion and Makateb in International Media Production Zone (IMPZ). Tecom also launched Villa Lantana, a 440-villa residential community located in Al Barsha. Sales for the first phase have been robust and ahead of target, the company said.
