112 new firms established in Dubai Internet City in 2007
A total of 112 companies last year chose to locate their regional operations at the Dubai Internet City (DIC), one of the largest managed information and communications technology (ICT) clusters in the world and a member of TECOM Investments.
The number of new entrants translates to 33 per cent growth over 2006, DIC said in a statement yesterday. Some of the new DIC-based companies include BT, Qualcomm, Google, Layton International, Telecom New Zealan, Dimension Data, Logo Business Solutions and VeriSign.
Malek Al Malek, director of partner relations at DIC, said the ICT cluster has played an important role in the developing the ICT industry in the UAE and the Gulf region. He added that the growing number of companies at DIC has brought knowledge and expertise into the region.
"Together we have put DIC in the forefront of this region's ICT industry, maintaining consistent growth while enriching the business community with international companies," Al Malek stressed.
The UAE's ICT sector was valued at Dh10.5 billion ($2.85 billion) in 2007, with an accumulated annual growth rate of more than 20 per cent, according to a research conducted earlier by global providers of IT and market intelligence advisories.
The International Data Corporation and BMI also said that the sector would maintain a double-digit annual growth rate until 2011, when the UAE's ICT market will have reached Dh15.1 billion ($4.1 billion).
The statement said that many companies at DIC have doubled or expanded their premises, resulting in 84-per cent growth rate for rented areas in 2007. It added that DIC facilitated the set up of over 1,000 IT companies in the free zone that offer various services, including a platform for networking, partnerships and business developments.
TECOM, a subsidiary of the state-owned investment company Dubai Holding, has taken the successful DIC-model outside of Dubai. In partnership with Sama Dubai, the international property development arm of Dubai Holding, TECOM has embarked on building self-sustained townships in Malta and the southern Indian state of Kerala.
DIC is home to most of the Fortune 500 companies as well as over 1,000 specialised ICT industry leaders, making it a global ICT hub. It is also home to 14,000 professionals working in different ICT units. Source
The number of new entrants translates to 33 per cent growth over 2006, DIC said in a statement yesterday. Some of the new DIC-based companies include BT, Qualcomm, Google, Layton International, Telecom New Zealan, Dimension Data, Logo Business Solutions and VeriSign.
Malek Al Malek, director of partner relations at DIC, said the ICT cluster has played an important role in the developing the ICT industry in the UAE and the Gulf region. He added that the growing number of companies at DIC has brought knowledge and expertise into the region.
"Together we have put DIC in the forefront of this region's ICT industry, maintaining consistent growth while enriching the business community with international companies," Al Malek stressed.
The UAE's ICT sector was valued at Dh10.5 billion ($2.85 billion) in 2007, with an accumulated annual growth rate of more than 20 per cent, according to a research conducted earlier by global providers of IT and market intelligence advisories.
The International Data Corporation and BMI also said that the sector would maintain a double-digit annual growth rate until 2011, when the UAE's ICT market will have reached Dh15.1 billion ($4.1 billion).
The statement said that many companies at DIC have doubled or expanded their premises, resulting in 84-per cent growth rate for rented areas in 2007. It added that DIC facilitated the set up of over 1,000 IT companies in the free zone that offer various services, including a platform for networking, partnerships and business developments.
TECOM, a subsidiary of the state-owned investment company Dubai Holding, has taken the successful DIC-model outside of Dubai. In partnership with Sama Dubai, the international property development arm of Dubai Holding, TECOM has embarked on building self-sustained townships in Malta and the southern Indian state of Kerala.
DIC is home to most of the Fortune 500 companies as well as over 1,000 specialised ICT industry leaders, making it a global ICT hub. It is also home to 14,000 professionals working in different ICT units. Source
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