Dubai Industrial City Registers 28 Growth in Revenue and 59 Increase in Gross Profit

10/6/2015 9:45:17 AM

(MENAFN- Emirates News Agency (WAM))

Dubai 6th October 2015 (WAM) - Dubai Industrial City (DI) the leading industrial and logistics hub in the GCC has announced its performance review (report) for 2015 reflecting 59% increase in gross profits and 28% growth in revenue compared to the same period in 2014.

In addition to registering robust growth DIC's strategic location conducive offerings and niche facilities helped attract more than 680 new business partners with a further 149 new companies from different segments of the industrial sector joining hands in 2015 all of which are either in the process of design or construction.

New business partners include consumer goods giant Unilever Max Steel Standard Carpet Gorica Al Barakah Dates All New Gypsum Emirates printing press Fabtech Al Reyami International Steel Rasasi Al Shirawi and Gulf Eternit Industries a member of Future Pipe Group which commissioned a manufacturing unit for the production of fiberglass pipes and fittings for the oil and gas water and industrial sectors.

Commenting on the results Abdullah Belhoul CEO Dubai Industrial City said: "Our 2015 results largely mirror the performance of the industrial sector of the UAE and all the efforts made to grow and advance the sector as well as our own efforts to fulfil the market demand. Also the relentless efforts of our incredibly dedicated team made Dubai Industrial City the preferred destination for more than 680 new companies. Given the additional considrable area of land under development we are confident land leasing will continue to drive growth over the course of the year. This will be further compounded by the accelerating demand Dubai is witnessing not only for industrial facilities but also for warehousing solutions labour villages vocational training centres and commercial space."

Belhoul added: "The industrial sector contributes over 14% to the national GDP and therefore forms one of the core pillars of the UAE's economic diversification policy. It also plays a vital role in Dubai's approach to building a sustainable economy that is driven by high productivity and innovation. At Dubai Industrial City we remain committed to supporting this vision through transforming the manufacturing and logistics hub into a destination of choice for industrial organizations through the delivery of premium world-class services advanced infrastructure and unparalleled logistical support."

Dubai Industrial City was established in 2004 to accelerate the growth and expansion of the UAE's industrial sector. Spanning more than 55 square kilometres Dubai Industrial City is located next to the Al Maktoum International Airport and the Jebel Ali Port. The destination caters for industrial and logistics needs with specific emphasis on food and beverage transport equipment and parts machinery and Mechanical Equipment logistics Chemicals mineral products and base metals

WAM/tfaham

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