Dubai Industrial City, a key component of TECOM Group PJSC, has announced its expansion plans following a significant land acquisition. The company has secured an additional 13.9 million square feet of land through a transaction valued at AED 410 million (approximately $111.6 million).
This strategic move underscores Dubai Industrial City’s commitment to strengthening local manufacturing and supply chains within the UAE. The additional land capacity will empower the development of new industrial facilities and businesses, catering to the growing demand in the region.
Land Occupancy on the Rise
Land occupancy at Dubai Industrial City has witnessed a significant rise, reaching 97% in the first quarter of 2024. This year-on-year growth of 12% highlights the increasing demand for industrial space in Dubai.
A Thriving Ecosystem for Businesses
The expansion comes on the heels of a successful year for Dubai Industrial City. In 2023, the company’s ecosystem of customers grew by 17%, attracting over 1,000 local, regional, and international heavyweights. This expansion will further enhance the existing infrastructure and services, creating an even more attractive environment for businesses to operate.
“This land acquisition is a testament to our dedication to supporting the growth of the manufacturing sector in Dubai and the UAE,” said [Name and Title], a spokesperson for Dubai Industrial City. “[Quote about the expected impact on the local economy and job creation].”
The expansion of Dubai Industrial City signifies the emirate’s commitment to fostering a robust industrial sector. With this additional land and ongoing development, Dubai Industrial City is poised to play an even greater role in the UAE’s economic diversification and growth strategy.
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