Several private investors have entered into Property Management Leasing Agreements (PMLAs) with the Dubai Technology and Media Free Zone, an investment model under which private investors develop buildings on Free Zone land while the Free Zone runs and manages the property.
The expansion responds to the huge interest from ICT and media companies around the world to be part of the DIC and DMC communities. It is also in line with the two organisations' strategy of focusing on enabling-services and business support to the industry while non-core aspects are taken care of by investors and third parties.
The Al Thuraya 1 Tower, the first building developed by a private investor within the Free Zone has just opened for occupancy. The Tower has already been completely occupied. This is the first of an estimated 27 buildings expected to be created in the next five years in the first phase of the Free Zone's infrastructure development.
"The new exciting infrastructure expansion will create the capacity for the Free Zone's growth into a richer and even more vibrant knowledge industry hub," said Jamal Abdul Salam, Executive Director of Dubai Internet City. "The PMLA model gives us the ability to focus on our core strengths in providing support and business development services, while investors focus on the infrastructure. This is the best model for our expansion strategy and creates tremendous synergies between the Free Zone's and the investors' strengths," he added.
"We have partnered with investors who understand the business of the Free Zone and have a long-term track record in the market. These are businesses who understand infrastructural support for knowledge-based companies," said Dr. Amina Al Rustamani, Executive Director of Media, Dubai Technology and Media Free Zone. "Once they develop new properties, we will take on all the management and maintenance responsibilities to ensure a productive and profitable experience for the companies accommodated by the new infrastructure."
Dubai Technology and Free Zone is responsible for all aspects of sales and marketing of value-added property services, as maintenance and management of the facilities. All companies moving into the new facilities will be able to avail of free zone benefits offered by Dubai Internet City and Dubai Media City.
Following the infrastructure development, Dubai Internet City and Dubai Media City will be expanding their support services to cater to the expanded community.
The new infrastructure will accommodate several new international and regional companies including global technology and media majors. The establishment of the regional headquarters of some of these global players in Dubai Internet City and Dubai Media City are set to be announced in the coming months.
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Dubai Internet City and Dubai Media City communities set for huge growth
- United Arab Emirates: Monday, September 26 - 2005 at 14:23
- PRESS RELEASE
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The Dubai Internet City (DIC) and Dubai Media City (DMC) communities are poised for massive growth with a number of private investors investing in the Free Zone's infrastructure development.
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Posted by Anne-Birte Stensgaard, Senior News EditorMonday, September 26 - 2005 at 14:23 UAE local time (GMT+4)
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This article was updated on Tue Jan 30 2007.
Notes and Media Contacts »
Fore more information please contact:
Baiju Francis
Corporate Communications Department
Dubai Technology and Media Free Zone
Tel: +971 4 391 4068
Fax: +971 4 367 2790
Dubai Internet City
Dubai Internet City provides a Knowledge Economy Ecosystem designed to support the business development of Information and Communications Technology (ICT) companies. It is the Middle East's biggest IT infrastructure, built inside a free trade zone, and has the largest commercial Internet Protocol Telephony system in the world. Dubai Internet City is a strategic base for companies targeting emerging markets in a vast region extending from the Middle East to the Indian subcontinent, and Africa to the CIS countries, covering 2 billion people with GDP of $ 6.7 trillion. In line with Dubai's liberal economic policies and regulations, Dubai Internet City offers foreign companies 100% tax-free ownership, 100% repatriation of capital and profits, no currency restrictions, easy registration and licensing, stringent cyber regulations, protection of intellectual property. Within a short span of time, a dynamic international community of ICT companies has established itself in Dubai Internet City. The global ICT giants are all here: Microsoft, Oracle, HP, IBM, Dell, Siemens, Canon, Logica, Sony Ericsson, Cisco, Sun Microsystems and Computer Associates, to name just a few. These companies represent a formidable community of over 12,000 knowledge workers. The cluster of ICT companies in Dubai Internet City comprise of Software Development, Business Services, Web Based and e-Commerce, Consultancy, Sales and Marketing and Back Office Operations. Dubai Internet City provides an environment that attracts each and every element of the value chain for an ICT business into the community. In addition, it has developed programmes that can be leveraged by the ICT community to explore and expand 'Channel Development' opportunities. The ICT cluster at Dubai Internet City also offers a high quality of business interaction and networking opportunities that can be utilised for enhanced problem solving and knowledge sharing by the community.
About Dubai Media City
Strategically located in Dubai, UAE at the crossroads of the Middle East, Africa and South Asia, Dubai Media City is rapidly emerging as the region's media hub. The City provides an advanced infrastructure and supportive environment for media-related businesses to operate globally out of Dubai. Dubai Media City is the place where every kind of media business, specifically - Publishing, Music, Film, New Media, Leisure & Entertainment, Broadcasting, Media & Marketing Services, and Information Agencies will thrive. The facility offers an environment that allows companies and individuals to operate with collective synergy and freedom. Companies based in Dubai Media City have the unique edge of commercial benefits derived from our free zone status including 100 % business ownership requiring no sponsorship and guaranteed 50-year exemption from personal income and corporate taxes. Since its official opening in January 2001, Dubai Media City has grown tremendously to become a thriving media community of over 960 companies and more than 250 freelance media professionals. Several global media giants and promising entrepreneurial ventures have joined the Dubai Media City community. Three quarters of the media community represents regional and international media companies.
Dubai Media City - Freedom to Create
Baiju Francis
Corporate Communications Department
Dubai Technology and Media Free Zone
Tel: +971 4 391 4068
Fax: +971 4 367 2790
Dubai Internet City
Dubai Internet City provides a Knowledge Economy Ecosystem designed to support the business development of Information and Communications Technology (ICT) companies. It is the Middle East's biggest IT infrastructure, built inside a free trade zone, and has the largest commercial Internet Protocol Telephony system in the world. Dubai Internet City is a strategic base for companies targeting emerging markets in a vast region extending from the Middle East to the Indian subcontinent, and Africa to the CIS countries, covering 2 billion people with GDP of $ 6.7 trillion. In line with Dubai's liberal economic policies and regulations, Dubai Internet City offers foreign companies 100% tax-free ownership, 100% repatriation of capital and profits, no currency restrictions, easy registration and licensing, stringent cyber regulations, protection of intellectual property. Within a short span of time, a dynamic international community of ICT companies has established itself in Dubai Internet City. The global ICT giants are all here: Microsoft, Oracle, HP, IBM, Dell, Siemens, Canon, Logica, Sony Ericsson, Cisco, Sun Microsystems and Computer Associates, to name just a few. These companies represent a formidable community of over 12,000 knowledge workers. The cluster of ICT companies in Dubai Internet City comprise of Software Development, Business Services, Web Based and e-Commerce, Consultancy, Sales and Marketing and Back Office Operations. Dubai Internet City provides an environment that attracts each and every element of the value chain for an ICT business into the community. In addition, it has developed programmes that can be leveraged by the ICT community to explore and expand 'Channel Development' opportunities. The ICT cluster at Dubai Internet City also offers a high quality of business interaction and networking opportunities that can be utilised for enhanced problem solving and knowledge sharing by the community.
About Dubai Media City
Strategically located in Dubai, UAE at the crossroads of the Middle East, Africa and South Asia, Dubai Media City is rapidly emerging as the region's media hub. The City provides an advanced infrastructure and supportive environment for media-related businesses to operate globally out of Dubai. Dubai Media City is the place where every kind of media business, specifically - Publishing, Music, Film, New Media, Leisure & Entertainment, Broadcasting, Media & Marketing Services, and Information Agencies will thrive. The facility offers an environment that allows companies and individuals to operate with collective synergy and freedom. Companies based in Dubai Media City have the unique edge of commercial benefits derived from our free zone status including 100 % business ownership requiring no sponsorship and guaranteed 50-year exemption from personal income and corporate taxes. Since its official opening in January 2001, Dubai Media City has grown tremendously to become a thriving media community of over 960 companies and more than 250 freelance media professionals. Several global media giants and promising entrepreneurial ventures have joined the Dubai Media City community. Three quarters of the media community represents regional and international media companies.
Dubai Media City - Freedom to Create
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