Projects worth $1.2bn revealed by Dubai Holding
Developments in Internet City and Media City to complete in five years
New projects worth $1.2bn (AED4.5bn) have been revealed for Dubai’s Internet City and Media City – and they are set to be complete within five years.
H.E. Mohammed Abdullah Al Gergawi, chairman of Dubai Holding, made the announcement at a ceremony to mark the 15th anniversary of Dubai Internet City.
The projects include 10mn ft2 of space for innovation complexes, technology laboratories and smart buildings.
Over the last 15 years, from an initial vision by H.H. Sheikh Mohammed the business zones at Dubai Internet City and Dubai Media City have grown from 100 companies to 4,500 companies, from a few hundred employees to more than 70,000 knowledge workers, and from a few thousand square feet to 6mn ft2.
“The media zone will attract the best talent in this field and develop new tools and applications by establishing an innovation culture,” Al Gergawi said.
“We will add real value to our national economy by developing education and knowledge across the content industry, as well as by supporting research that makes a real difference to people’s lives,” he added.
Al Gergawi announced a range of immediate initiatives that are designed to speed up the transformation towards this new vision. A new fund will be established to support innovation-led projects, creativity and entrepreneurial ideas. Ten innovation incubators will be created across all of Dubai Holding’s relevant portfolio, including those related to the ICT, media, education, sciences and design industries.
Two further new projects will play vital roles in supporting the new vision.
The first, called Innovation Hub will function as an enabler for innovation, located in the middle of three business zones: Dubai Internet City, Dubai Media City and Dubai Knowledge Village. Innovation Hub will incorporate five smart buildings with pioneering platforms, and aims to provide an encouraging environment that can grow and enhance an innovative culture. This will create a platform for individuals and companies to launch new ideas and technologies that can have a positive knock on effect on wider economy.
The second, d3’s Creativity Community, located within Dubai Design District, has a goal to inspire and encourage talent across various design fields. The Creative Community will provide unique facilities including showrooms, creative workshops, spaces for events and relevant service facilities.
“Today, Dubai Internet City has realised the dream of a visionary leader, which was set out 15 years ago. In the future, it will realise the dreams of tens of thousands of creative and innovative pioneers. As we realize this new phase of HH Sheikh Mohammed’s vision, we will step into a new age of innovation,” Al Gergawi said.