Dubai Holding launched to manage major projects and initiatives of Dubai

DUBAI, 9 October 2004: Dubai Holding, a company tasked with the management of various mega projects created over the past five years in Dubai, was launched on Thursday.

Dubai Holding will also do research, identify and execute future major projects that will benefit the emirate and the region.

The initial clutch of projects Dubai Holding will manage include Dubai Internet City, Dubai Media City, Dubai Healthcare City, Jumeirah Beach Residence, Dubailand, Dubai Humanitarian City, Dubai Knowledge Village, Arab Radio Network, International Media Production Zone, Dubai e-Hosting, Dubai Outsourcing Zone, Empower, SamaCom, and other leading developments, institutions, initiatives and projects.

Dubai Holding is set to play a significant role in the creation of a large number of mega projects, all of which are expected to be among the top companies in the Middle East. New areas of growth cover the diversified field of media, healthcare, tourism, property, energy, industrial, research and humanitarian-related projects.

His Highness General Sheikh Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and UAE Defence Minister, instructed the creation of Dubai Holding, and commenting on the formation of the new company, Al Gergawi, Chief Executive Officer of Dubai Holding, said: "By the directives of His Highness, Dubai Holding was launched to ensure future development and successfully manage existing projects. Dubai Holding will emphasise the role of the country as an international centre for business, commerce, industry, and tourism."

New era of development
Referring to the projects in hand, Al Gergawi said: "These projects have achieved a tremendous success during the past five years. They have played an important role in the human resource development in new and thriving business sectors. The directives of His Highness to launch Dubai Holding will definitely help direct the resources and skills to be effectively used in these projects to accomplish the best results."

He added: "The launch of Dubai Holding at this period of time, reflects the new era of economic independence and strength - an era which will in fact allow the country to compete in a rather challenging international scene."

Al Gergawi said: "Dubai Holding will operate in the most flexible manner, hence allowing the projects to operate in their usual environment, only with more focus on maximising the benefits gained from using the best skills and resources. This will help improve the competency of those projects as they will be involved in the overall strategic planning of the company."

Al Gergawi said Dubai Holding is a rather well established company with high standards to achieve the best results. And with its unique and well-trained human resources, the company will enter new challenging levels of development.

"This fact is evident though the tremendous development that Dubai Technology and Media Free zone has achieved. It is now an international centre that houses over 1700 top regional and international companies in which more than 20,000 brains are working hard to achieve the best. The Dubai Healthcare City has attracted large number of top healthcare and medical science associations like Harvard and Mayo Clinic, all of which are keen on making Dubai a leading host for scientific research and healthcare."

Successful projects
In addition, the mega investment and tourism project of Dubailand has been very successful in attracting a large number of investors form inside and outside the region. This AED 20 billion project will function as the number one family entertainment and tourism hub and will definitely help Dubai reach its target of 15 million tourists by the year 2010.

Jumeirah Beach Residence, which continues to set the standards for the best property development; ARN, International Media Production Zone, Dubai e-Hosting, Dubai Outsourcing Zone, Empower, SamaCom and all other leading projects and initiatives, have achieved the best results ever since they were established.

Al Gergawi added: "We will always look forward to achieving the best through Dubai Holding which will definitely help boost the national economy. We will continue to march onwards under the directives of His Highness, who is always keen on developing and training human resources. It is in this sense that Dubai Holding will help shape the young talent and skills for the good of tomorrow."