TECOM Investments strengthens ties with UK business community as UAE-UK bilateral trade reaches nearly $20bn

Dubai, United Arab Emirates - Wednesday, December 10th 2014 [ME NewsWire]

In line with the recently announced UAE and Dubai National Innovation Strategy, TECOM Investments’ recently visited the UK to present its innovation vision and strategy to an international audience and target companies.

During the trip to London, a delegation from TECOM Investments, led by Malek Al Malek, CEO of TECOM Business Parks, which included Majed Al Suwaidi, Managing Director of Dubai Internet City and Dubai Outsource Zone and Mohammad Abdullah, Managing Director of TECOM’s Media Cluster, hosted UK companies from across the media, ICT and education sectors at a business and networking event at The Ritz.  Malek Al Malek presented TECOM Investments’ innovation strategy to the companies, who are potentially looking to expand their operations to Dubai, and drew upon TECOM Investments’ new innovation initiatives as well as the wider benefits of doing business in Dubai and the Middle East.

TECOM Investments’ recently announced innovation-focused initiatives includes the creation of Dubai Internet City's new Innovation Hub which will provide 1.6 million sq. ft. of dedicated space to around 15,000 knowledge and creative workers, as well as Dubai Design District’s Creative Community. TECOM Investments will work closely with British and international companies to promote entrepreneurship and innovation, pioneer the development of new technologies and partnerships, and provide support services for London businesses setting up in Dubai.

The delegation also met with senior directors from London’s Google Campus as well as from Level 39, Canary Wharf’s innovative technology hub for start-ups, where the delegation exchanged ideas and best practice about ways to drive innovation and entrepreneurship. The delegation also heard first-hand about Level 39’s innovation and accelerator programmes, and discussed ways to drive innovation within in5, DIC’s innovation centre.

TECOM Investments is home to 4,500 companies across the ICT, Media, Education, Industrial and Sciences industries, with the majority of its European business partners from the UK, including BBC, and British Telecom.

Bilateral trade between the UAE and UK has significantly surpassed the $18.5bn target for 2015, and the two countries are working closely across all areas of business including financial and professional services, education, healthcare and infrastructure.

Commenting, Malek Al Malek, CEO of TECOM Business Parks, said;

“Innovation and entrepreneurship are the engines of future economic growth, and in line with His Highness Sheikh Mohammed bin Rashid Al Maktoum’s new innovation strategy and focused initiatives, we will continue to share best practice and ideas with international companies as well as global technology hubs going forward to drive Dubai’s transition into an innovation-led economy.

“We are delighted to have also met with executives from UK companies who are exploring growth opportunities in the Middle East. Through the creation of industry specific infrastructure and business communities, TECOM Investments has attracted companies from around the world, including many well-known British companies, and the trip reflects our desire to further strengthen ties with the UK.

“With the recent launch of Dubai Internet City’s new development, the Innovation Hub, we look forward to attracting more innovation specific centres, incubators, creative firms and entrepreneurs/ start-ups.”

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ABOUT TECOM INVESTMENTS

TECOM Investments, a member of Dubai Holding, is an established master developer and operator of world class industry-focused business communities with an asset rich portfolio, including a substantial land bank, and a successful track record. TECOM’s business communities currently provide a home in the Gulf to over 4,500 companies, from major multinationals to local start-ups and small firms.

TECOM’s business communities, 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 Science Cluster.

Dubai Industrial City is TECOM’s non-free zone business community  dedicated to the manufacturing and logistics industry. Spread across 55 square kilometers (560 million square feet), Dubai Industrial City is the second largest non-real estate project in Dubai.

Dubai Design District, known as d3, is a purpose-built community dedicated to promoting and nurturing emerging local talent, while also providing a creative home to established international design, luxury and fashion brands. d3 is the newest of TECOM Investments’ business communities  with 11 buildings currently under construction; Phase I is due to launch in Q1 2015.

For more information please visit www.tecom.ae

Contacts
Alexa Hooft Graafland
+971555597404
AHooftGraafland@bell-pottinger.com

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