Consistent growth of DuBiotech & EnPark prompted the expansion of the Free Zones
TECOM Investments has announced the opening of DuBiotech Headquarters, two landmark buildings located in the Al Barsha South area in 2015. Completion of the state-of-the-art -towers comes on the back of increasing demand by businesses for space in Dubai’s new growth corridor of South Barsha.
The DuBiotech Headquarters comprises of two iconic high-rise towers that provide over half a million square feet of office space. The inspiring architecture forms a glass shaped jewel that dominates the developing skyline, and the surrounding water features and luxuriant landscaping, delivers a scenic and professional feel to the Al Barsha South development.
The buildings were designed as the nucleus of operations for the free zones, whilst boasting a close proximity to popular residential areas, hospitals, schools, restaurants. The site is less than 30 minutes to Dubai International Airport and is in close proximity to Umm Suqeim Road and Sheikh Mohammad Bin Zayed Road.
Dubai’s economy has demonstrated consistent, steady growth over the past year and as a reflection of this, DuBiotech and EnPark produced impressive first half year result, with a 26% growth in new business partners in the first six months of 2014 compared to 2013, with 29 new businesses opening in total. The new businesses included; world renowned Pepsi-Cola, who launched their research and development lab for the region in DuBiotech, Gulf New Energy Group a world leader in the construction of solar photovoltaic power plants and Global Warming Green Consultants, specialists in green buildings and sustainable infrastructure development, among others.
Built at the heart of the emerging district of Al Barsha South, the developers are already experiencing significant demand from businesses wishing to establish themselves in one of the fastest growing areas of the Emirate.
DuBiotech and EnPark, members of TECOM Investments, are free zone business parks dedicated to fostering the growth of the life sciences and the alternative energy and environmental industries industry in the region. The site offers world-class infrastructure and cutting edge research and development facilities, specifically designed and built around the needs of the partner company. The free zones support both start-ups and international firms looking for a regional base for their Middle East or global operations. The park is central to a community that is committed to the industry’s success by bringing together business, regulators and Government in partnership.
Marwan Abdulaziz, Executive Director of TECOM Investments’ DuBiotech & EnPark said;
“I am extremely proud of the progress DuBiotech and EnPark have made over the years and this new milestone; the opening of DuBiotech Headquarters, epitomises our success through the world class infrastructure and exemplary service we strive to provide to our business partners.
“The Headquarters will add further value to the healthcare sector in the region and will help us decrease the reliance on pharmaceutical imports by encouraging R&D and innovation. Our new facilities will enable us to continue to provide a platform that fosters a culture of collaboration among peer companies, so that we may achieve our part of the Government’s aim to develop a knowledge-based economy.”
The UAE has the highest annual sales per capita for medicines in the GCC, and the pharmaceutical market in the GCC has witnessed considerable progress over the years on the back of favorable demographic and economic factors.
Companies that operate under DuBiotech and EnPark benefit from advantages of being licensed by a free zone, including 100% foreign ownership in a tax-free environment, a guaranteed 50-year exemption from personal, income and corporate taxes, full repatriation of profits and capital, and exemption of custom duty for goods and services.