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Industrial development in Dubai and the establishment of DMC

by HosamHabib

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Dubai is one of the largest cities in the whole world. It is situated in the emirate of Dubai which is one of the seven emirates of the United Arab Emirates. It has one of the fastest growing economies in the whole world. Previously the city was just a patch of desert with very less developments in place. However due to the steps taken by the government, the city gradually started developing and transforming into the current state of what is now called the city of Dubai. One of the major steps that were taken for the development of Dubai was the promotion of city as a commercial and industrial hub. There were a number of free zones developed in the region to promote the trade and to facilitate the growth of industrial sector that the city was undergoing through. These free zones provided a lot of benefits such as no corporation taxes, one hundred percent foreign ownership and easy access to ports that attracted the attention of the businesses from all over the world and these businesses started shifting to these free trade zones.

These free zones along with providing these benefits also provide suitable spots for the companies to set up their premises in. There are a lot of different types of commercial structures being set up in these zones that are going to house different sorts of offices and suites. These suites and offices will satisfy all the needs of the set up of a growing business. Some of these structures are being developed by the top construction companies in the world and are available for sale at reasonable prices. The structures being constructed in these zones will also provide offices and commercial structures on rental basis and a lot of real estate brokers dealing in Dubai properties for rent are also dealing in these structures being constructed.

One of these free zones is Dubai Media City (DMC) which is a tax free commercial zone like the rest of free zones. The zone was set up in 2001. Since then it has been the biggest technology and media free zone in the city of Dubai. This zone was primarily set up for the purpose of creating a relationship between information and human capital based industries. The area has been one of the primary sources of foreign investment and earnings for the government of Dubai. There have been a number of different types of office structures that have been created in the zone by the most renowned names of the international construction market. These offices are available for sale and are also available on rental basis. These Dubai furnished offices and otherwise unfurnished office spaces can be bought or obtained on rent with the help of a broker operating in the city. Currently the free zone holds a number of most renowned media and technological industries and is included as the greatest regional hub for media organizations, news and other agencies, publishing, online media, advertising, production and broadcast facilities.

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