Dubai Internet City Drives Growth in ICT Sector

In little over a decade, Dubai Internet City has evolved into a vibrant commercial centre, attracting an average of 14 new investors each month.

Despite the economic slump, Internet City has managed to recruit enterprises. According to Malek Sultan Al Malek, Managing Director of DIC and Dubai Outsource Zone, 169 new firms were registered in 2011, bringing the total number of enterprises to over 1,400.

According to Al Malek, DIC has developed fast since its inception in 2000, and it currently employs over 25,000 people from 150 different enterprises. Now, the business park is home to most Fortune 500 IT businesses. According to Al Malek, the increase reflects the UAE’s information and communication technology (ICT) dominance.

Dubai Internet City was established as part of the emirate’s ambition to employ ICT breakthroughs to produce innovative commercial solutions. Later, Dubai Media City, Knowledge Village, Dubai Studio City, and Dubai Outsource Zone (DOZ) were added to the ambitious project, which aimed to convert the emirate’s economy from one focused on commerce to one based on knowledge.

ICT is critical to economic growth.

The Dubai Government regards ICT as a critical aspect in bringing vitality to the economy of SME enterprises that need assistance in getting started. It recently organized a session at Thuraya Hall in the City to examine how ICT investments might assist UAE-based firms.
John Lincoln, Vice-President of Marketing at Du, a UAE-based telecom service provider and DIC business partner, delivered the keynote address on the “Art of ICT Investments for SMEs.” He discussed how ICT investments might enhance human resource efficiency, company effectiveness, and income production.

“Investments in ICT are critical to increasing an SME’s efficiency,” Lincoln told the delegates in Dubai. A 10% boost in productivity in an SME may often decide whether the firm stays competitive and viable.
“In addition, the cost-effective and well-planned deployment of ICT is important to the success of small and medium-sized businesses.” A poor solution choice or a supplier may have severe ramifications for a small business, exacerbated by its limited financial and human resources. Because most SMEs lack the requisite in-house ICT skills to execute relevant initiatives on their own, an SME must choose an ICT partner that is trustworthy, skilled, and provides the most excellent value for money.”
SMEs are the most significant job creators.
In most nations, SMEs provide the bulk of GDP and are the leading employment creators in the global economy. In Dubai, for example, their economic value is enormous. According to a recent survey conducted by Du in collaboration with Frost & Sullivan, 98.5 per cent of UAE enterprises are SMEs. Companies in the UAE spend around AED9.8 billion on ICT, with SMEs accounting for 50% of the investment.

The rise in the DIC is also excellent news for investors in Dubai’s rising real estate market. A dynamic economy predicts that long-term property values will stay steady.

Companies relocating to the DIC are conveniently located near some of Dubai’s most opulent houses. The First Group’s three hotel apartment buildings – First Central, Metro Central, and Grand Central – are located just across Sheikh Zayed Road from the busy commercial centre of TECOM. The luxury market performed very well in 2011, increasing by 17.6 per cent.

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