DUBAI – TECOM Investments, the developers of Dubai Design District, aims to complete phase one of the dedicated industry community within 18 months, with construction of 10 buildings already underway.
TECOM is investing AED4 billion in the first phase of Dubai Design District. This first phase marks the start of what will become a world-class creative community for the Middle East that promotes and nurtures local and regional designers. In addition it will be home to some of the world’s leading brands and talent, as well as showcasing Dubai as an international design, fashion and luxury destination that can compete with the more established global centers.
TECOM Investments said in the period that phase one is under construction, businesses and individuals that are looking to be licensed by Dubai Design District can secure licenses to operate in TECOM’s nine other purpose built free zone business parks.
Commenting, Ahmed Bin Byat, Chief Executive Officer, Dubai Holding, said: "The UAE’s resilient and growing retail and tourism sectors, its strong infrastructure and logistic network, and the potential of the MENASA region, have already attracted several of the world’s top design and luxury brands to set up their regional headquarters in Dubai.
"To further strengthen Dubai’s knowledge-based economy and ensure its sustainability, we must create an environment that would produce and nurture the future business leaders and entrepreneurs. Dubai Design District aims to provide this environment for the local talent interested in this sector. Furthermore, these talents will be able to draw on the experience of the leading regional and international operators who we are looking to attract to the district.”
Dr Amina Al Rustamani, Group Chief Executive Officer at TECOM Investments, added: "The announcement of Dubai Design District is a landmark moment for TECOM and a natural expansion for the creative industries we have already established. Extensive market research into the design, fashion and luxury industries, coupled with our track record in creating, operating and growing successful, industry focused business parks in Dubai has led us to creating this new district.” – SG
