(MENAFN Press) Dubai Industrial City, a member of TECOM Investments, witnessed a very successful year in 2013 with an impressive financial performance, where revenue increased by 33.2% and Ebitda registered 67.1%
The increase in revenue was driven mainly by land leases and warehouses lease, which registered an increase of 44.1% and 51.6% respectively. The City saw a remarkable growth on all sides, where it 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 4 times more than last year. Moreover, warehouses' occupancy rate reached 91% and labour villages' occupancy rate reached 79% in 2013
Abdullah Belhoul, CEO of Dubai Industrial City said: "Growth in Dubai Industrial City continues to stress on the industrial sector success story in the UAE, where the sector contributes with 10-14% in 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.
"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.
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.
Belhoul added: "The newly established Halal Cluster in Dubai Industrial City stems from our ambition to act as a true enabler of Dubai's ambition to become the global capital of the Islamic economy. With the support of Standards Department at Emirates Authority for Standardization and Metrology (ESMA), and Accreditation Department at Dubai Municipality, we have succeeded in creating a dedicated platform for companies and investors with halal operations in the UAE.
Dubai Industrial City is considered one of the largest industrial destinations in Dubai and is spread across 55 square kilometers (560 million square feet) of land. It was established to serve as a catalyst for the growth and expansion of the industrial sector in the United Arab Emirates - with specific emphasis on Machinery and Mechanical equipment, Transport Equipment and parts, Base Metal, Chemicals, Food and Beverage and Mineral Products.
The City is home to over 500 companies, including: JUMA AL MAJID GROUP, Unilever, AL ROSTAMANI, Al Futtaim, Patchi, CEDARS Papers Industrial LLC., Al Habtoor Motors, SIEMENS, Dubai Islamic Bank, International Humanitarian City, Arabtec Construction L.L.C., The Kanoo Group and Transmed.