Michal Kanoo, Deputy chairman of the Kanoo Group Image Credit: Gulf News archive

Dubai: Dubai Industrial City will be the next prominent industrial base in Dubai says Michal Kanoo, deputy chairman of the Kanoo Group.

Looking to take advantage of the low rates, Kanoo Engineering LLC, a member of the Kanoo Group of companies, announced the official inauguration of its main headquarters yesterday.

"We want to take advantage of the Dubai Industrial City base. The cost is relatively cheap right now. It might not look like anything now but 20 years down the road it will be a central area for manufacturing companies," Kanoo told Gulf News.

Steel rebar company, BRC is also being constructed on the same site and should be ready in about nine months. In addition, Kanoo Engineering also has four other companies due to be launched and built in the area.

Dubai Industrial City is currently home to over 1,100 companies. Its is strategically situated on Emirates Road near the new Al Maktoum International Airport and close to major highways and Jebel Ali Port.

A 150,000 square foot factory will be the new headquarters of Kanoo Engineering LLC as well as an in-house fabrication facility.

"We are delighted to open our first exclusive unit at Dubai Industrial City which offers excellent opportunities, given the economy's rapid growth and strong consumer market. With this specialist branch, we will be able to share our unique experience and understanding of steel works related to the construction industry for the benefit of businesses in the country and continues expansion of our customer base," said Kanoo at the inauguration.

Established in 1890, the Kanoo Group is one of the largest independent, family-owned, group of companies in the Gulf. The group has diversified interests in areas such as shipping, travel, machinery, logistics, oil and gas, power, chemicals, joint ventures, retail and commercial activities.

"At The Kanoo Group, we have always believed in nurturing relationships, especially with our valued clients who have remained loyal to us over the last two decades," said Kanoo. The group currently has over ten UAE offices and branches.