Tecom Investments announces Dubai Design District

Dubai, June 10, 2013 (WAM) - Following the announcement made on Saturday by His Highness Sheikh Mohammed bin Rashid Al Maktoum, the UAE Vice President and Prime Minister and Ruler of Dubai, TECOM Investments, the developers of Dubai Design District, yesterday said that it aims to complete phase one of this dedicated industry community by January 2015, with construction of 10 buildings already underway. TECOM is investing Dh4 billion in the first phase of Dubai Design District, which 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 centres. TECOM Investments has also announced that during phase one's construction period, businesses and individuals looking to be licensed within Dubai Design District can secure licenses to operate in any of TECOM's nine other purpose built free zone business parks. Under TECOM's existing offering, the legal and commercial framework for licensing specific design-related activities is already available. 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." According to a recent report on the knowledge economy published by the World Bank, the UAE has the highest employment growth rate in the MENA region having seen employment reach 3.5 million in 2009 from 1.7 million in 2000. Dubai Design District aims to be the Middle East's key destination for the design, fashion and luxury industries and will offer people a dedicated district that will be the heart of the region's design scene. TECOM Investments is creating a purpose built environment for these industries with the vision of a world class creative community that engages, nurtures and promotes local, regional and global design talent, which supports Dubai's goals for a diversified and thriving economy. This new Dubai-based fashion, design, and luxury goods district also builds on the Emirate's strengths in tourism and will be a major contributing factor in achieving the goals of Dubai's Tourism Vision 2020. In terms of facilities, Dubai Design District will offer residential, commercial, retail and hospitality real estate, characterised by distinct public spaces, unique street furniture and shaded walkways. The development will include a creek side promenade with international and boutique hotels, a pop up shop area, amphitheatre and convention centre. – Emirates News Agency, WAM