Notes 97% occupancy in its land lease portfolio in Q1-2024
Dubai Industrial City (DIC), the region’s leading industrial and logistics hub, has officially launched 13.9mn sqft of additional land capacity within its ecosystem in the presence of HE Sarah Al Amiri, UAE Minister of State for Public Education and Advanced Technology; Omar Al Suwaidi, Undersecretary of the UAE Ministry of Industry and Advanced Technology; Malek Al Malek, Chairman, TECOM Group; Abdulla Belhoul, CEO, TECOM Group, and Saud Abu Alshawareb, Executive Vice President Industrial, TECOM Group, at the recently concluded ‘Make it in the Emirates Forum’ held in Abu Dhabi.
The additional land capacity at Dubai Industrial City, part of TECOM Group, was acquired through an AED 410mn transaction that aims to champion and strengthen local supply chains, stimulating homegrown manufacturing in the UAE and Dubai.
The strategically located, well-connected land plots enhance the manufacturing destination’s land bank and have been launched following exceptional performance witnessed by Dubai Industrial City in the past 18 months as pro-growth visions including Operation 300bn, Make it in the Emirates, and Dubai Economic Agenda ‘D33’ lead to increased demand for high-quality industrial spaces in the region.
Sustained Group
Land occupancy at the manufacturing destination grew by 12% year-on-year (YoY) to reach 97% in the first quarter of this year. It followed a period of sustained growth in 2023, when Dubai Industrial City’s ecosystem of customers grew by 17% to reach more than 1,000 local, regional, and international heavyweights.
“The manufacturing sector is essential to accelerate the development of smart solutions that can pre-emptively solve tomorrow’s challenges, and nurturing its growth is essential to safeguard socioeconomic growth that endures for generations,” stressed Alshawareb.
Launched in 2004, Dubai Industrial City is located close to Al Maktoum International Airport, Jebel Ali Port, an Etihad Rail freight terminal, and critical regional road networks and offers specialised infrastructure, including industrial land, storage, and logistics spaces across a sector-specific masterplan with dedicated zones for the base metals, machinery, minerals, F&B, transport, and chemical industries, a press communique concluded.
