(MENAFN) Dubai announced launching USD1.22 billion worth of new projects in Dubai's technology and media free zones, which will be over five years and will include 10 million square feet of space for innovation complexes, technology laboratories and smart buildings, Gulf Business reported.
"Dubai Internet City has supported the transformation of our national economy into a knowledge economy. We have kept pace with great changes in technology. Now the time has come for Internet City to become a creator of change," Dubai's Ruler said in a statement.
These investments come as the result of launching a plan which aims to make the Emirates the most innovative county within seven years, as well as plans to boost the number of companies in the content, knowledge, technology, education, development and research sectors to 10.000 and to grow the number of people employed in these sectors to 100.000 in Dubai.
These investments also will include Dubai Media City, which is expected to go through tremendous change in the coming years, to help it in attracting the best minds to develop new tools and create content.
Dubai Internet City and Dubai Media City currently consist of nine specialized business districts within six key sectors such as information technology, communication, media, education, biosciences and content.
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