Tuesday 21 May 2019

Tecom Group registers sustainable growth in 2017

DUBAI, May 16, 2018

Tecom Group, a member of Dubai Holding, continued to show strong performance and sustainable growth in 2017, playing an integral role in Dubai’s diversification plan and consolidating its position as a global business hub.

It plays a critical role in developing six vital non-oil sectors, including information technology, media, science, education, design and manufacturing, through establishing state-of-the-art infrastructure, a robust legislative environment and effective business solutions.

Tecom Group also focuses on entrepreneurship and SMEs to help local companies pave the way to global expansion. In line with the Group’s support for developing and empowering national talent across various economic sectors, its business parks today are led by a distinguished senior Emirati team, said a senior official.

Tecom’s 11 business parks – Dubai Internet City, Dubai Outsource City, Dubai Media City, Dubai Studio City, Dubai Production City, Dubai Knowledge Park, Dubai International Academic City, Dubai Science Park, Dubai Industrial Park, Emirates Towers Business Park and Dubai Design District – attracted over 480 new business partners in 2017, bringing the total number of companies to 5,600.

Employing more than 90,000 people from 162 nationalities, Tecom Group’s business communities also maintained a high occupancy rate of more than 86 per cent.

The group hosted over 900 technology, education, design, media, science and industry events over the past year, boosting the growth of vital economic sectors that drive Dubai’s economic diversification.

On last year’s outstanding performance, Dubai Holding chairman Abdulla Al Habbai, said: "Guided by the vision of our wise leadership, Dubai Holding continues to play a pivotal role in furthering Dubai’s and the UAE’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."

He pointed put that it is at the forefront of national institutions that support Dubai’s efforts to transform into a knowledge-driven economy, and supporting Dubai’s GDP growth.

The Tecom Group is set to complete several key development projects this year mainly the Huawei International Technology regional headquarters which will be opened in Dubai Internet City.

"This year will also see the completion of development work at the Innovation Hub Phase 1 in Dubai Internet City that aims to accelerate the transformation of Dubai into a smart city and support the knowledge-based economy through promoting global partnerships with world-class players in innovation and technology," noted Tecom Group CEO Malek Al Malek.

Furthermore, works on the headquarters of Dubai Science Park have entered their final stages, stated the top official.

Dubai Science Park is poised to become a leading business destination attracting international companies operating in diverse scientific disciplines, he added.

Al Malek said: “Under the leadership of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, Tecom Group continues its strong year-on-year performance, in line with the integrated plan for Dubai Plan 2021. Our efforts are in line with Dubai Holding’s strategic direction, which focuses in addressing the market's growing needs, increase the contribution of non-oil economic sectors to the GDP and establish digital transformation enablers to make Dubai the smartest city in the world."

Over the past two decades, the group has created a business experience that is unprecedented in its integration and ability to provide an attractive environment for enterprises from across the world, he noted.

"Our efforts have significantly strengthened Dubai's position as a global economic hub. We will continue to promote the emirate as a key destination for business and innovation," he added.

“Tecom Group’s first business community Dubai Internet City was launched in 1999 amid a radical transformation of the global economy and a rapid rise of economic concepts that have changed the international landscape, such as globalisation of trade, industry and knowledge economy, and enabling entrepreneurship and e-commerce.

From the outset, the purpose of the Group was not only to keep pace with these transformations, but also to envisage the future and contribute to consolidating Dubai's status as a global success story.”

Since its inception, Tecom Group has been providing the necessary supportive business setup landscape, enabling environment and integrated infrastructure that constantly evolves, allowing its partners to innovate, grow and expand into the wider region.

Today, Tecom Group continues to support Dubai’s strategy of competitiveness and excellence. The Group is focusing on the development of its current and future projects that provide an integrated business environment for global entrepreneurs, strengthening Dubai’s position as a hub for a diversified, sustainable and resilient businesses and investments.

Technology is the first economic sector developed by the Group. At the forefront of this sector is Dubai Internet City (DIC), one of the largest information and communications technology (ICT) business parks in the Middle East and North Africa, and the home to world-renowned corporations, including listed Fortune 500 companies; in addition to Dubai Outsource City, a specialised outsourcing hub.

The two communities boast a combined total of 1,600, ranging from major international corporations to small and medium-sized businesses and entrepreneurs, employing 34,000 professionals.-TradeArabia News Service

Tags: Dubai Internet City | Dubai Holding | business hub | Tecom Group |

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