Dubai: Tecom Group, a subsidiary of Dubai Holding, recorded growth in 2017, as 482 new companies joined the group’s business community and occupancy rates reached 86 per cent.
The new companies bring the total number of firms at Tecom’s business parks to 5,600. Tecom Group’s portfolio of business communities includes Dubai Internet City, Dubai Media City, Studio City, Production City, Knowledge Park, Academic City, Dubai Science Park, and Design District, among others.
In 2017, the Group hosted over 900 technology, education, design, media, and science events, boosting the growth of non-oil sectors that drive Dubai’s economy.
“The Group plays a key role in achieving the economic aspirations of the emirate by developing vital non-oil sectors including hospitality, tourism, media, and design,” said Abdullah Al Habbai, chairman of Dubai Holding, in a statement.
This year, Tecom Group is set to complete several key projects. Huawei International Technology will inaugurate its regional headquarters in Dubai Internet City. The year will also see the completion of development work at the Innovation Hub in Dubai Internet City to accelerate the transformation of the city
Additionally, work on the headquarters of Dubai Science Park has entered their final stages. The Park is expected to be a leading business destination attracting international companies operating in diverse scientific areas.
He added that the Group is well-positioned to lead local and regional economic growth.
“Our efforts are in line with Dubai Holding’s strategic direction, which focuses [on] addressing the market’s growing needs, increasing the contribution of non-oil economic sectors to the [gross domestic product], and establishing digital transformation enablers to make Dubai the smartest city in the world.”
Al Malek said that Tecom Group is committed to creating business opportunities to boost Dubai’s position. To do so, he said the group is developing smart infrastructure, facilitating business, attracting talent, investing in human capital, supporting entrepreneurship, and promoting critical work environments.
Internally, Tecom will have a new chief commercial officer, announcing that Abdullah Belhoul will take on that role to drive the growth of the group’s 11 business communities and expansion of its service offerings.
Among the sectors Tecom Group focuses on is technology, with Dubai Internet City now home to global corporations including Google, Facebook, IBM, Microsoft, Oracle, and Snapchat, among others.
Over the years, Dubai Internet City’s business partners have secured investments totalling Dh7.8 billion.
Besides the larger companies, Tecom Group focuses on supporting start-ups and small and medium sized businesses. The group created in5, an innovation hub that aims to nurture fledging companies to their next phase of growth. With three innovation centres focused on tech, design, and media, in5 assists start-ups through set-up, smart labs, mentorship, training, and access to investors.
The number of in5 partners has reached around 160, and these companies have raised Dh190 million in funds.
Elsewhere, Dubai Design District (d3), which is also under the Tecom Group portfolio, has become an art and fashion hub in the region as design gains momentum among economic sectors in Dubai.
D3 hosts 500 of Tecom’s business partners, and has hosted popular events that include Dubai Design Week, Fashion forward, and Sole DXB. Global fashion houses that have joined d3 include Chanel, Dior, Boss, and Burberry.
The Dubai Institute of Design and Innovation also opened registration for its programmes to boost the design sector further.
In media, Dubai Media City, Dubai Studio City, and Dubai Production City focus on advertising, filmmaking, and production, hosting companies that include CNN, BBC, Discovery Networks, YouTube Space, and Disney. They employ over 34,500 people, and make up the largest share of Tecom Group’s business partners.
In the industrial sector, Dubai Industrial Park is a leading industry and logistics hub in the region and a key element to reinforcing Dubai’s position as a trade and manufacturing powerhouse. The park announced a Dh135 million infrastructure expansion in line with the growth of the industrial sector in Dubai and the UAE.
In 2017, several industrial and commercial names joined the list of business partners of Dubai Industrial Park, while some existing partners expanded their business.
Tecom Group has also enabled the science sector through creating Dubai Science Park, which is set to become a leading business destination attracting international companies. Today, the Park has 350 business partners, including global pharma giants Bayer and Pfizer, that employ over 3,700 industry professionals.
Tecom Group plays a key role in developing six non-oil sectors including information technology, media, science, education, design, and manufacturing through establishing infrastructure, legislative environment, and business solutions.
The Group is currently focusing on the development of its projects that provide a business environment for global entrepreneurs, strengthening Dubai’s position as an investment hub.