TECOM Group is key driver in achieving Dubai's Economic Diversification Vision

TECOM Group plays a critical role in developing six vital non-oil sectors

  
Abdulla Belhoul - Chief Commercial Officer TECOM Group

Abdulla Belhoul - Chief Commercial Officer TECOM Group

2017 Highlights:

  • 482 new companies join TECOM Group’s business communities, over 86%occupancy rate

  • TECOM is a key contributor to the growth of Dubai’s non-oil economy
  • 900technology, education, design, media, science and industry events held during 2017
  • Leadership and management positions led by distinguished UAE cadres
  • Abdulla Al Habbai: Dubai today has an unrivalled global reputation as a leading business and investment destination, in line with the vision of our wise leadership
  • Abdulla Al Habbai: TECOM Group is well-placed to lead local and regional economic growth, strengthening Dubai’s global position as an attractive business hub and an attractive job market for Emiratis leading the growth of national economy
  • Malek Al Malek: Our priority lies in strengthening the contributions of non-oil sectors and focusing on future industries and segments
  • Dubai-UAE: – 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.  TECOM Group 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.

    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.

    Speaking on last year’s outstanding performance, His Excellency Abdulla Al Habbai, Chairman of Dubai Holding, 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. TECOM Group 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.”

    Directions

    Malek Al Malek, CEO of TECOM Group, 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."

    He added:" 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. 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.

    “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.” 

    SECTOR-WISE ACHIEVEMENTS

    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.

    Since its inception, DIC has been shaping the tech business landscape in the region, diversifying the economy and promoting Dubai as a global destination that spearheads digital transformation and provides a conducive ecosystem for world-class companies and innovation centres. Leading multinational corporations that have chosen to call DIC home include Google, Facebook, IBM, Microsoft, Oracle and Snapchat. 

    Over the years, DIC’s business partners have secured investments from local and international investors totalling AED7.8 billion (US$2 billion). Some of the partners commenced operations as small-scale startups prior to becoming runaway success stories with DIC’s support.

    Dubai Internet City is now home to 11 innovation centres including Cisco and SAP.

    The education, training and HR sector, represented by Dubai International Academic City (DIAC) and Dubai Knowledge Park (DKP), is one of the key pillars of Dubai’s transition to a knowledge-based economy. The two business communities account for 500 companies in the field of education and professional development with over 5,300 employees. 

    DIAC is home to 27 universities, including 22 international campuses of renowned educational institutions from across the globe, catering to 25,000 students from 150 nationalities.

    In 2017, the University of Birmingham opened its campus in DIAC, becoming the first educational institution based in Dubai to rank among the top 100 universities in the world. Other international institutions that DIAC welcomed to its fold last year include BMI Media and Curtin University.

    Design is one of the most prominent economic sectors that are gaining momentum in Dubai. Hosting a creative workforce over 8,000-strong, Dubai Design District (d3) has become one of the premier art, fashion and architecture hubs in the region. Housing 500 of TECOM Group’s business partners, d3 is also an entertainment and art destination with a portfolio of popular events to its credit, including Dubai Design Week, Fashion Forward and Sole DXB. Key global fashion houses that have joined d3 include Chanel, Dior, BOSS, and Burberry. The Dubai Institute of Design and Innovation (DIDI) opened registration for its programmes that were developed jointly with Massachusetts Institute of Technology (MIT) and Parsons Design School. The business community has also laid the foundation for the iconic Mercedes Benz Tower that will accommodate the automobile manufacturer’s regional corporate headquarters, branches and showrooms.

    Dubai Media City, Dubai Studio City and Dubai Production City represent the dynamic media arena with a focus on creative industries such as advertising, filmmaking and production. Companies based here, including CNN, BBC, Discovery Networks, YouTube Space and Disney, employ over 34,500 people and make up the largest share of TECOM Group’s business partners – 2,000 in total.

    In the industrial sector, Dubai Industrial Park (DI) is the leading industry and logistics hub in the MENA region and a key contributor to reinforcing Dubai’s position as the regional trade and manufacturing powerhouse. DI accounts for 700 of total companies. The park announced an AED135 million infrastructure expansion in line with the growth of the industrial sector in Dubai and the UAE. Furthermore, DI launched the third phase of light industrial units and refrigerated warehouses that comprise 197 warehousing facilities spanning 1.5 million square feet.

    In 2017, several prominent industrial and commercial names joined the list of business partners of Dubai Industrial Park, while some existing partners expanded their business.

    TECOM Group has also enabled the science sector through creating Dubai Science Park (DSP) that is poised to become a leading business destination attracting international companies operating in diverse scientific disciplines. Today, DSP has 350 business partners, including global pharma giants Bayer and Pfizer, that employ over 3,700 industry professionals

    ENTREPRENEURSHIP 

    While TECOM Group has succeeded in attracting the world's largest companies to its business communities, it has also always focused on supporting emerging talents, startups as well as small and medium-sized businesses that are the mainstay of the economy. A major catalyst in the Group’s success in this regard was the creation of in5, an innovation hub that aims to nurture fledgling companies to their next phase of growth.

    With its three innovation centres focused on tech, design and media, located in Dubai Internet City, Dubai Design District and Dubai Production City, in5 assists promising startups through business setup, smart labs, creative spaces, mentorship, training, events and access to investors. The number of in5 partners has reached nearly 160, and these enterprises have succeeded in raising funds of AED190 million.

    PROJECTS UNDER DEVELOPMENT

    The Group is set to complete several key development projects in 2018. Huawei International Technology will inaugurate its regional headquarters 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.

    Furthermore, works on the headquarters of Dubai Science Park have entered their final stages. Dubai Science Park is poised to become a leading business destination attracting international companies operating in diverse scientific disciplines.

    HUMAN RESOURCES  

    TECOM Group has been a key contributor to the local knowledge economy in more ways than one. The leadership of its business communities comprises passionate and committed executives, who have risen through the ranks to form a team driven by 100 per cent UAE nationals that enable Dubai’s and the wider UAE’s economic diversification, making the Group an important source of home-grown talent.

    As part of TECOM Group’s growth strategy, Abdulla Belhoul will take on the new role of Chief Commercial Officer to drive the growth of the Group’s 11 business communities and expansion of its service offering. He will spearhead the Group’s journey of success and maximise returns while ensuring the provision of best-in-class experiences for all business partners and introducing new functions to empower young leaders to play a key role in the next phase of TECOM’s growth.

    During 2017, TECOM Group organised over 200 training programmes that comprised more than 1,000 sessions.

    CORPORATE SOCIAL RESPONSIBILITY

    In 2017, TECOM continued its community outreach initiatives as part of its sustained corporate social responsibility (CSR) mandate. The Group established partnerships with local institutions working in charitable and humanitarian fields, primarily those focused on education and health. The partners of Dubai International Academic City and Dubai Knowledge Park offered scholarships worth AED35 million to more than 2,800 students in the UAE, in addition to executing a range of other CSR initiatives.

    EYE ON THE FUTURE

    Speaking on the future direction of TECOM Group, Malek Al Malek said: "We will continue enhancing Dubai’s business ecosystem, enabling new industries and exploring future transformations. We will work relentlessly to shape an environment that facilitates the integration of new business models in the economic landscape, and leads the uptake of bioscience, new media and artificial intelligence.”

    He added: “We are also committed to creating unparalleled business opportunities that reinforce Dubai's leading position as a smart city and a world-class destination to live and work. To achieve this priority, we are building on six pillars: developing sustainable smart infrastructure, facilitating business, attracting talent, investing in human capital, supporting entrepreneurship and promoting critical work environments.”

    -End-

    © Press Release 2018

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