Business | General
Dubai Industrial City asserts confidence
Nineteen companies are putting in more than Dh650 million for new manufacturing units within Dubai Industrial City, an official said on Sunday.
- Staff Report
- Published: 00:11 October 20, 2008
Dubai: Nineteen companies are putting in more than Dh650 million for new manufacturing units within Dubai Industrial City, an official said on Sunday.
The new manufacturing facilities will come up in the base metal, mineral, transport, equipment and parts and the food and beverage zones in the township.
Five of the 19 facilities are expected to be completed this year while the remaining are scheduled to start operations by 2009.
Rashed Al Ansari, vice president of Dubai Industrial City, said the heightened construction activity indicates a remarkable sign of growth for the township, the third largest non-real estate project in Dubai.
Al Ansari said: "The rapid occupancy rate reflects high investor confidence, increase in demand for commercial and office space, and the fast track development of Dubai Industrial City. The ongoing construction of manufacturing facilities within our boundaries confirms we will maintain our leading role in driving the emirate's status as the region's hub for the industrial sector."
Based on statistics released by Dubai Industrial City, more than 500 factories and manufacturing units for light and medium industries are set to be built across the six industrial zones by 2015.
The Dubai Centre for Industrial Standards is currently scrutinising over 140 applications for new manufacturing facilities.
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