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FINANCIAL NEWS
UAE- DIC reports 82% increase in number of new firms in 2012
06 Mar 2013
(MENAFN) Dubai Industrial City’s (DIC) Managing Director, Abdullah Belhoul, stated that in 2012, the number of new firms that joined the city soared by 82 percent to 471 companies, compared with 259 in 2011, reported Emirates 24/7.
Belhoul said that companies are attracted by the several industrial real estate services and facilities offered by DIC.
He added that DIC, which is a member of TECOM Investments and one of the largest specialized hubs in light to medium manufacturing sectors in the emirate, recorded a rise in warehouse occupancy level, which reached 82 percent, whereas occupancy rates at open storage lands rose to 100 percent.
The city, which spans over 55 square kilometers of land, posted higher demand for industrial land in 2012, with rising number of industrial investors, including Othman Mohamed Sharif, Al Barakh Dates Factory, and Interpro Wood Industries, leasing over 5 million square feet of industrial land, representing a rise of 14 percent in industrial firms from a year before.
It is worth noting that the industrial sector is the second-biggest contributor to the UAE’s total gross domestic product (GDP).
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