Tecom Investments and Sama Dubai join forces

Dubai: Tecom Investments and Sama Dubai, both members of Dubai Holding, yesterday announced the formation of SmartCity, a joint venture company which will develop and manage knowledge industry townships worldwide.

The announcement comes three months after Gulf News reported on the move in November last year.

SmartCity will combine Tecom's specialised expertise in the creation and management of knowledge-based industry clusters, with Sama Dubai's strength in international real estate development to create an infrastructure and environment catered to the requirements of knowledge based companies and knowledge workers.

Expansion plans

Ahmad bin Byat, executive chairman of Tecom Investments, said: "The SmartCity project is part of Tecom's global expansion plans of growing into an internationally diversified organisation and becoming the preferred provider of knowledge based business parks across the world."