Sheikh Mohammed Announces New Projects Worth Dhs4.5bn In Dubai’s Internet City And Media City

By admin Wednesday, 29 October 2014 8:00 PM

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Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum has launched new projects worth Dhs4.5 billion in Dubai’s technology and media free zones, state news agency WAM reported.

The projects will be built over five years and will include 10 million square feet of space for innovation complexes, technology laboratories and smart buildings, a statement said. Other initiatives in the plan include facilitating the growth of business incubators and other financial means to stimulate innovation.

The announcement comes as Dubai Internet City marked its 15th anniversary, WAM added. It also follows the launch of a plan aimed to make the Emirates the most innovative county within seven years.

Sheikh Mohammed’s plan also aims to boost the number of companies in the content, knowledge, technology, education, development and research sectors to 10,000 and to grow the number of people employed in these sectors to 100,000.

The 65-year old head of the emirate also urged the private sector to contribute actively in transforming the country into an innovation hub.

“Our innovation facilities will soon open their doors to talented pioneers, whether they are from the UAE, from the Arab world, or any other nation around the globe. We will connect them with opportunity in the smartest innovation environment in the world,” Sheikh Mohammed said.

He added that Dubai Media City too will see tremendous change in the coming years, as it will attract the best minds to develop new tools and create content.

Dubai Internet City and Dubai Media City consist of nine specialised business districts within six key sectors such as information technology, communication, media, education, biosciences and content.