Renewed focus on its core business of developing and operating business parks
Dubai, United Arab Emirates - Tuesday, May 21st 2013 [ME NewsWire]
TECOM Investments, a wholly-owned subsidiary of Dubai Holding, has today announced a new operational structure, which will allow the company to further focus on its core business of developing and operating business parks.
The implementation of a new structure comes at a time when the region’s macroeconomic fundamentals are increasingly positive, offering an opportunity for TECOM Investments to ensure it is strongly positioned to capitalise on Dubai’s future growth prospects.
Under the new structure, TECOM Investments real estate business will be segmented into three verticals. These will be:
TECOM Development & Planning (Land, Infrastructure and Building Development)
TECOM Freezone Business Parks
Dubai Industrial City
Commenting on the changes, Dr Amina Al Rustamani, Group CEO of TECOM Investments, said: "The region’s economic outlook looks promising and we are entering the next phase of Dubai’s impressive growth story. We need to be prepared for this opportunity and with this new company structure we will have clear ownership of each of the key success factors and processes to drive business stability and growth.”
Badr Al Gargawi is now CEO of TECOM Development & Planning where he will manage matters relating to land, infrastructure and building development. Mr Gargawi will be responsible for all master planning, construction, infrastructure, and engineering development in TECOM Investments. Mr Gargawi has been with TECOM for 7 years and was previously CEO of Tamdeen and Managing Director of TECOM Business Parks’ Engineering Management unit.
Malek Sultan Al Malek is now CEO of TECOM Freezone Business Parks. Mr Al Malek will be responsible for all TECOM Investments’ free zone assets comprising: Dubai Internet City, Dubai Outsource Zone, Dubai Media City, Dubai Studio City, International Media Production Zone, Dubai International Academic City, Dubai Knowledge Village, DuBiotech and ENPARK. Mr Al Malek has been with TECOM for 10 years and was previously Managing Director of Dubai Internet City and Dubai Outsource Zone.
Abdulla Belhoul is now CEO of Dubai Industrial City. Mr Belhoul will continue to be responsible for TECOM Investments’ onshore assets comprising of offices, logistics facilities, labour accommodation, and industrial land in Dubai Industrial City. Mr Belhoul has been with TECOM Investments for 6 years.
ENDS
Note to Editors:
New management team biographies are available upon request.
About TECOM Investments
TECOM Investments, a wholly-owned subsidiary of Dubai Holding, is a world class developer and operator of business parks. TECOM’s business parks are currently providing a home in the Gulf to over 4,500 companies, which range from major multinationals to local start-ups and small firms.
TECOM Investments’ real estate business is strategically organised into three verticals:
TECOM Development & Planning (Land, Infrastructure and Building Development)
TECOM Freezone Business Parks
Dubai Industrial City
TECOM’s freezone business parks, which feature purpose built facilities and industry specific infrastructure, include: Dubai Internet City and Dubai Outsource Zone, together forming an ICT Cluster; Dubai Media City, Dubai Studio City and the International Media Production Zone, which make up a Media Cluster; Dubai Knowledge Village and Dubai International Academic City, combining to create an Education Cluster; and DuBiotech and ENPARK, which comprise the Sciences Cluster.
Dubai Industrial City is TECOM’s non free zone business park that is dedicated to the manufacturing and logistics industry.
In addition to business parks, TECOM Investments features a number of pure play companies. These include: eHosting DataFort, a managed IT and advisory services provider; Arab Media Group, a leading UAE media and entertainment organization with subsidiaries covering broadcast, event management and outdoor advertising; and, Global Village, a leisure, tourism and entertainment project.
TECOM Investments owns share capital in EMPOWER, a district cooling service provider; Nexgen Advisory Group, a MENA-based specialized advisory and consulting services organisation; and, Energy Management Services, one of the leading energy savings companies in the Middle East.
Contacts
Sam Turvey, Bell Pottinger
+971 5 5559 7383
sturvey@bell-pottinger.co.uk
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