Impressive growth for Dubai Industrial City
Improved financial results, including a 33.2 per cent revenue increase, made 2013 a successful year for Dubai Industrial City.
The increase in revenue was driven mainly by land leases and warehouses lease, which registered an increase of 44.1 per cent and 51.6 per cent respectively. It also attracted 158 new companies in 2013.
Strong results were also achieved in all products in Dubai Industrial City, where the new industrial land leases grew four times more than last year. Moreover, warehouses' occupancy rate reached 91 per cent and labour villages' occupancy rate reached 79 per cent in 2013.
Abdullah Belhoul, CEO of Dubai Industrial City says growth in Dubai Industrial City continues to stress on the industrial sector success story in the UAE, where the sector contributes with 10-14 per cent to the national GDP.
“The increase we have witnessed in 2013 also highlights our efforts in meeting the demand in this industry and our vision to provide a highly competitive platform for growth in the manufacturing and logistics sector in the UAE," Belhoul said.
"Growth trend expected to continue, driven by industrial land leases, and we will continue to see a growing number of factories becoming operational this year. Investing in infrastructure and new assets will continue to be essential for us, in order to sustain this growth in the coming years," Belhoul added.
According to the latest research from real estate consultancy Cluttons, momentum remains in the industrial property market with steady rates and growth throughout the UAE. Cluttons Q4 2013 report, the industrial market was bolstered by an improved economic climate, the successful win of Expo 2020, and the launch of passenger services at Al Maktoum International Airport, following the June 2010 inauguration of the airport as a cargo hub.
A large number of local and regional companies chose Dubai Industrial City as a preferred destination for their operations, where a total number of 111 customers started constructions of their factories, and 10 new factories became operational including factories for: Al Marai, BYRNE, Al Reyami Group, Rasasi, Gulf Eternit, CAPAROL, Al Faris, Emirates Printing Press (EPP), FABTECH and standard Carpets.
Dubai Industrial City supports a wide variety of sectors covering the majority of the manufacturing industry’s requirements, especially in light to medium manufacturing sectors with specific emphasis on machinery and mechanical equipment, transport equipment and parts, base metal, chemicals, food and beverage, mineral and recently halal products.