Dubai Industrial City sees 82% growth in new firms
2012 growth unexpected: results bode well for recovery in 2013
Dubai Industrial City (DI) has released its results for 2012, highlighting in particular an increase of 82% in the number of companies established in the $1.63bn industrial freezone.
The number of new DI clients increased from 259 to 471 in the twelve month period ending December 2012, and the occupancy rate in DI’s warehousing facilities hit the same 82% figure.
“Last year was a really successfully year for us,” said managing director Abdullah Belhoul, after presenting its latest figures on DI since the completion of its second phase.
We could see a growth, we could see an increase in demand, and coping with this demand we had to put more into our infrastructure projects as well, putting more investment into new projects to keep up with the demand of the market.”
The leasing of industrial land also increased by 14% over the same twelve month period, and a total 35 factories are in the process of being built, an increase of 175% on the 20 already operational.
"We achieved this year a total of 100 clients in terms of land industrial, and the number is growing," noted Belhoul.
According to DI's figures, private investment, including the building of factories on industrial leases now accounts for $540,000 of the total value of 55km2 development.
“The industrial sector demonstrated a lot of stability during the rough times and it will have a high potential rate of growth in the near future,” Belhoul added.
“Also the UAE government is looking to increase the contributions of the sector to GDP, so you see the sector is the most stable and it will grow.”
For the construction supply sector Belhoul noted: “I think we have reached the stability stage now. Maybe there will be a growth in 2013 with all the new projects announced by the government.”
In term of fixed infrastructure, DI's second phase has delivered 781 warehouse and 187 showrooms.
The industrial city also has 74 residential buildings with an area of 650,000m2 and four commercial buildings with 37,000m2 of office space, and a further 279,000m2 of space leased as open storage yards.