DI attracts 212 new companies

Dubai Industrial City (DI) has attracted 212 new companies during 2012 marking an increase of 82 percent in the number of new companies that opted to use the various industrial, real estate services and facilities on offer by the leading industrial destination in Dubai, as companies in DI grew from 259 to 471 during the 12 months period. Dubai Industrial City, which is one of the largest specialized hubs in light to medium manufacturing sectors in Dubai, has also witnessed a growing demand for industrial land, as a growing number of industrial investors such as Othman Mohamed Sharif, Al Barakh Dates Factory, and Interpro Wood Industries have leased more than 5 million square feet of industrial land in 2012, marking an increase of 14 percent in industrial companies in DI compared to 2011. Warehouse occupancy rate has also increased to reach 82 percent of a total of 7 million square feet of storage facilities available in the city, in addition to a 100 percent occupancy rates recorded in the city’s 3 million square feet of open storage lands. Abdullah Belhoul, managing director of Dubai Industrial City, commented: “Achieving high growth rates in 2012 emphazizes that Dubai Industrial City continues to be an attractive industrial and logistic hub for local and regional companies. It also stresses on the importance of the industrial sector, being the second largest contributor to the total GDP of the United Arab Emirates.” ARAB NEWS