Design District Phase I to be completed by Jan 2015

Design District Phase I to be completed by Jan 2015 Staff Report / 10 June 2013 Phase one of the newly announced ‘Dubai Design District’ worth Dh4 billion will be completed by January 2015. It was revealed on Sunday by Tecom Investments that expanded it’s creative communities base in the emirate after the announcement of new business district. Construction of ten buildings is already under way, Tecom said in a statement. It is expected to be the most connected fashion district in the world, with Dubai being only eight hours flight time from 90 per cent of the countries in the world. The business district 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 centres. World-renowned luxury brands and educational institutions are already operating in some of Tecom’s nine free zones. Tecom is also providing licensing facility during the construction period of the first phase of the new district. Under Tecom’s existing offering, the legal and commercial framework for licensing specific design-related activities is already available, according to the statement. “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,” commented Ahmad bin Byat, chief executive officer, Dubai Holding. “Dubai Design District will be a dedicated home to the growing and increasingly popular local designer community who are emerging onto the global stage. We are confident that the district will play an integral role in diversifying Dubai’s economy once developed,” Bin Byat said. Dr Amina Al Rustamani, group chief executive officer at Tecom Investments, added: “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 create this new district.” “In the same way that we have supported IT companies in Dubai Internet City — the region’s first knowledge cluster — and media companies in Dubai Media City, we want to give design and luxury goods companies a platform for growth and an appropriate base for their operations in Dubai,” Al Rustamani said. Tecom’s pioneering and industry-focused business parks have helped play a key part in the development of Dubai’s knowledge economy and in growing employment levels across the UAE, she added. — Taylor Scott International

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