DIC reports growth for 2010
150 new companies set up shop, 48 have expanded business and operations in the region
Dubai Internet City (DIC), part of TECOM Investments, has announced that 150 new companies set up in the ICT cluster last year.
Forty-eight of DIC's business partners also expanded their businesses and commercial operations in the region.
DIC has revealed that it expects further growth in 2011, as enterprise spending in the Middle East, Europe and Africa increases by 1.3% from 2010 to reach $795.2 billion.
"The year 2010 proved positive for us on the back of an industry uptrend and saw many businesses emerging as winners. Additional investments in potential growth areas and operational expansion beyond the region were also witnessed. For DIC, this translates into more companies opening direct offices at the ICT park with most of the leading brands driving the region's positive trend," said Malek Al Malek, managing director at Dubai Internet City and Dubai Outsource Zone. "The favourable year-on-year trend for the ICT cluster reflects the development in the region that continues to attract a large community of ICT professionals and specialists. We believe the new investments and influx of top level executives will continue in 2011 with multinational organisations across the globe regarding this region as the next growth area."
The sectors that saw the most new additions in Dubai Internet City in 2010 were telecommunications and networking, software, internet and multimedia.
Several top global brands also opened offices in DIC's ICT business park including Cable and Wireless Europe, ADP Dealer Services Gulf, Pitney Bowes Software, China Communication Service, and Versata.
A large number of companies from firststeps@DIC, a facility which allows businesses to lease short-term office space while exploring market opportunities, expanded into full-fledged operations.
Malek said: "Technology is key driver of growth and contributes significantly to the economy of the country, reflecting the entire region's position as a fertile ground for small businesses. Though big businesses are the mainstay of the economy, smaller, nimbler organisations continue to expand their role as major growth enablers. As the region's key technology cluster, Dubai Internet City remains integral to facilitating the growth of SMEs by creating and offering the necessary infrastructure and technical capabilities to grow from a grassroots level."