DIC to expand at home and abroad

Extra buildings planned at hub in Dubai, cluster model exported to Malta and Kerala

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By  Published  November 25, 2006

Dubai Internet City (DIC) has confirmed plans at Gitex to build an additional 27 buildings over the next five years to meet the incredible demand for office space at the globally renowned ICT hub.

At the same time, DIC also announced ambitious plans for global expansion as it looks to replicate the success of its Dubai-based ICT cluster model in other countries around the world.

“Taking a location and turning it into a vibrant business community is something that DIC understands well,” said Jamal Abdul Salam, executive director of DIC.

“Developing this further in other parts of the world is something we have vast expertise in. We are looking to create a global network of knowledge-industry business campuses as part of our global expansion plan,” he revealed.

Tecom Investments, the parent company of DIC, is already in talks with the governments of Malta and the southern Indian State of Kerala to develop ‘smart’ cities, along the lines of DIC, in these locations.

DIC had a double celebration at Gitex as not only had the number of companies locating at DIC now exceeded the 900 mark, but also this year’s show coincided with DIC’s sixth anniversary.

In these six years, DIC has had an average annual growth rate of 53% and become one of the largest managed ICT clusters in the world.

DIC has undertaken a massive infrastructure expansion to cater to the exceptional interest from global and regional companies to join its community.

Several private investors have now entered into property management leasing agreements (PMLAs) with DIC.

This is an investment model which allows private investors to develop buildings on free zone land with the free zone itself running and managing the property. “The PMLA model gives us the ability o focus on our core strengths in providing support and business development services, while investors focus on the infrastructure,” Salam stated.

“This is the best model for our expansion strategy.”

The new PMLA infrastructure will accommodate several new international and regional companies including global technology firms.

The establishment of the regional headquarters of some of these global organisations will be announced during the coming months.

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