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FINANCIAL NEWS
Dubai Industrial City’s 2012 growth up 15%
01 Dec 2011
(MENAFN) Dubai Industrial City’s managing director, Abdullah Bel Houl, said that since industrial real estate in the UAE would expand, the City’s growth in 2012 would be estimated between 10 percent and 15 percent, reported Gulf News.
Bel Houl added that Dubai would keep attracting more investors due the emirate’s safe atmosphere, compared with other countries in the region that encountered political turmoil.
He also said that over the past four years, the City invested USD160 million in projects, allowing it to finish the infrastructure of around 30 percent of its area, adding that power, water, sewage, irrigation and telecom systems were up and running on 15 square kilometers.
It is worth noting that industries represent only 20 percent of the City, whereas of the City’s 500 investors, 150 are industries and 350 are units including warehouses, labor camps and offices.
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