- Broker Directory
- My Tools
- News & Advice
- Market Trends
- Other GN Sites
Industrial developments across the UAE are vital in order to diversify the country’s reliance on oil and gas to sustain its economy. Several agencies work throughout the emirates to establish projects and set up these developments thus creating jobs and income for the entire country.
The oil sector is often subject to price volatility, therefore, decreasing the UAE’s reliance on it will allow for steady and long-term growth over the coming decades. Government investment in industrial developments has been significant and has worked to change the structure of the UAE’s entire economy almost as much as it has changed its skyline.
Earlier in the year, the Industrial Development Bureau (IDB) in Abu Dhabi set goals of creating job growth of 8 per cent to 9 per cent in its industrial sector by 2020 with the hope of increasing skilled staff by the same rate and the number of companies operating within the sector by 4 per cent. Thirteen industrial sectors will be developed to help the emirate achieve these ambitious goals, focusing on areas such as building materials, petrochemicals, metal engineering, iron and steel, and others.
A significant element in Abu Dhabi’s drive to grow industrial developments has been the Higher Corporation for Specialized Economic Zones (also known as ZonesCorp) which accounts for almost 50 per cent of Abu Dhabi’s manufacturing GDP. ZonesCorp has plans to double its industrial land area by 2020 to a total of 100 square kilometers, adding to its flagship industrial zones Industrial City of Abu Dhabi (ICAD) and Al Ain Industrial City.
Over in Dubai, industrial projects also continues to grow, with the announcement in February that Dubai Industrial City, a part of TECOM Investments, will launch a halal cluster within its development. This cluster is planned to help drive the growth of the halal food, cosmetics and personal care sectors in the UAE, and will feature a transportation infrastructure, accommodation, warehouses and showrooms.
• Thirteen industrial sectors will soon be developed in Abu Dhabi
• ZonesCorp plans to double its industrial land in the year 2020
• Dubai Industrial City’s halal cluster aims to promote halal food
Source: Nicholas Baker, Special to Properties
The writer is a freelancer