Sunday 23 June 2024
 
»
 
»
Story

Dubai Industrial City launches 13.9m sq ft land expansion

ABU DHABI, 25 days ago

Dubai Industrial City, the region’s leading industrial and logistics hub and a part of Tecom Group, has announced that it has officially launched 13.9 million sq.ft. of additional land capacity within its ecosystem to help boost UAE's manufacturing sector. 
 
The additional land capacity at Dubai Industrial City was acquired through a AED410 million (   ) transaction that aims to champion and strengthen local supply chains, stimulating homegrown manufacturing in the UAE and Dubai. 
 
The announcement was made in the presence of Sarah Al Amiri, UAE Minister of State for Public Education and Advanced Technology, Omar Al Suwaidi, Undersecretary of the UAE Ministry of Industry and Advanced Technology, Malek Al Malek, the Chairman of Tecom Group, Abdulla Belhoul, the CEO of Tecom Group and Saud Abu Alshawareb, the Executive Vice President of Industrial at Tecom Group on the opening day of the 'Make it in the Emirates Forum' yesterday (May 27) in Abu Dhabi.
 
The strategically located, well-connected land plots enhance the manufacturing destination’s land bank and have been launched following exceptional performance witnessed by Dubai Industrial City in the past 18 months as pro-growth visions including Operation 300bn, Make it in the Emirates, and Dubai Economic Agenda ‘D33’ lead to increased demand for high-quality industrial spaces in the region, said a statement from Dubai Industrial City.
 
"The manufacturing sector is essential to accelerate the development of smart solutions that can pre-emptively solve tomorrow’s challenges, and nurturing its growth is essential to safeguard socioeconomic growth that endures for generations," remarked Alshawareb.
 
Land occupancy at the manufacturing destination grew by 12% year-on-year (YoY) to reach 97% in the first quarter of this year. It followed a period of sustained growth in 2023, when Dubai Industrial City’s ecosystem of customers grew by 17% to reach more than 1,000 local, regional, and international heavyweights.
 
"As we stand at the cusp of a transformative era led by technology and environmental efficiencies, an ecosystem centred on robust, integrated infrastructure is crucial to embed resilience and reliability into the manufacturing sector," he noted. 
 
According to him, Dubai Industrial City’s ecosystem has grown in the past 18 months with the addition of international customers such as Indian pharmaceuticals giant Himalaya Wellness, which broke ground on an AED200 million factory supported by a financing package from Emirates Development Bank and vertical farming specialist Sokovo, which opened an indoor farm on a plot spanning over 100,000 sq.ft. at the district. 
 
Last week, the leading Zambian company Neelkanth Cables Manufacturing opened a 503,000 sq ft state-of-the-art facility to manufacture 20,000 MT of power cables per year through an investment of AED130 million at Dubai Industrial City. 
 
The customers join international industry heavyweights that have an address at Dubai Industrial City, including Unilever, which operates a fully automated Dubai Personal Care facility at the district, a part of World Economic Forum’s Global Lighthouse Network, and the Standard Turf factory inaugurated by Standard Carpets Industries in October at Dubai Industrial City, along with the company’s plans to expand its operations with an investment of AED 600 million.
 
"Dubai Industrial City’s expansion is an embodiment of our commitment to enabling the industrial and logistics sectors not just in Dubai, but indeed the UAE and globally," said Alshawareb. 
 
"Guided by the vision of Operation 300bn, Make it in the Emirates, and Dubai Economic Agenda ‘D33’, we are well-attuned to the needs of our community and look forward to enabling further industrial brilliance and excellence through Dubai Industrial City’s expanded ecosystem for years to come," he added. 



Tags:

More Industry, Logistics & Shipping Stories

calendarCalendar of Events

Ads