Dubai Holding businesses thrive
dubai — Dubai Holding announced an eight per cent net profit surge to Dh6.32 billion for the conglomerate’s Dubai Holding Commercial Operations Group on a total revenue of Dh16.84 billion for 2016. Below are key operational highlights of Dubai Holding’s performance in 2016:
ICT
Dubai Internet City and Dubai Outsource City welcomed 175 new companies in 2016, including Visa, Samsung Electronics Mena, Huawei and Accenture, among others.
Media
Dubai Media City, Dubai Studio City and Dubai Production City welcomed 165 new companies collectively. Most notably, YouTube chose Dubai Studio City as home to the first YouTube Space in the Mena region.
Education
Dubai Knowledge Park and Dubai International Academic City together welcomed 40 new business partners in 2016. Both entities comprise 580 partners, forming the largest higher education hub in the region, enrolling 25,000 students from 149 nationalities. The academic institutions offer a total of 427 higher education programmes and more than 500 certificate and diploma courses, with 24 new programmes introduced in 2016.
Design
Dubai Design District (d3) welcomed 150 new companies, reaching a total of 415 registered businesses in the district, which comprises 114 local companies, 291 multinational companies and 82 Emirati entrepreneurs. The total area of commercial space in the ‘Design Quarter’ had reached an occupancy of 84 per cent since its inauguration in 2016.
Moreover, d3 is the home of three architectural firms, Benoy, Foster and Partners and Zaha Hadid. In addition, d3 launched the in5 innovation centre, the third business incubator in the in5 network, which will act as a catalyst for supporting the fashion and design industry in Dubai.
Industrial
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, launched Dubai Wholesale City, the largest global wholesale hub, set to span over 550 million sqft with an expected development cost of Dh30 billion. Dubai Wholesale City comprises markets, warehousing, shipping centres, customs services, insurance companies and smart storage solutions, as well as banking services and residential and hospitality units.
Real estate
Dubai Properties Group (DPG) announced the launch of Marasi Business Bay in 2016 with a total investment cost exceeding Dh1 billion. It also developed 9km of Dubai Water Canal’s first phase, stretching from Ras Al Khor through Business Bay to Sheikh Zayed Road with an investment of Dh1 billion. DPG also launched five new projects and handed over 3,000 new units. It also achieved high occupancy rates of 90 per cent across its commercial and residential leasing portfolio. The company’s facilities management business has seen eight per cent growth backed by its expansion in Abu Dhabi. Jumeirah Central, one of Dubai Holding’s most recent innovations, was announced in 2016 by Sheikh Mohammed. Located on Sheikh Zayed Road, Jumeirah Central is a Dh73 billion urban mixed-use city district envisaged to become the most accessible, functional and valuable real estate in Dubai. Recognised as one of the leading hospitality chains in the world, Jumeirah Group owns and manages 21 hotels and resorts in nine destinations across eight countries. In 2016, Jumeirah Al Naseem was launched as the fourth addition to the Madinat Jumeirah resort in Dubai.
Dubai Holding also launched the Burj Al Arab Terrace last year. Jumeirah Group continues its global expansion as it signed management contracts for luxury hotels in Turkey and China.
Science
Dubai Science Park, the first free zone in the Middle East dedicated to meet the needs of the scientific sector, welcomed 80 new companies. Dubai Science Park is devoted to innovation-focused businesses and supports a diverse platform of small to medium enterprises.
Entertainment
Global Village, a family entertainment destination, welcomed nearly 5.9 million visitors in 2016, setting a new record. Global Village showcases global culture through 30 pavilions from countries across the world and over 12,000 cultural and entertainment shows to date.