(MENAFN- Emirates News Agency (WAM))
DUBAI, 21st January, 2018 (WAM) -- The Dubai Industrial Park, DI, today announced the infrastructure development and road expansion project that will begin on its premises and spans 16 million square feet.
The expansion works stem from the park's commitment to pre-emptively address the potential growth of the industrial sector in Dubai and wider UAE, which reflects the strides of the Dubai Industrial Strategy since its launch 2016. The AED135 million contract has been awarded to Wade Adams, a Dubai-headquartered general construction and project development company with international experience.
Saud Abu Shawareb, Chief Operating Officer at DI, said, "Dubai Industrial Park is committed to meet the needs and requirements of its business partners and enable them to take advantage of the opportunities available and contribute to the UAE's economic diversification. The UAE's economy is witnessing a significant growth in non-oil sectors, particularly in the industrial domain, for its leading contribution to sustainable economic growth, in line with the government's focus and resilient efforts to diversify the country's economy and leverage its strategic location to serve as a trade corridor."
According to the annual results of Dubai Industrial Strategy, the industrial sector grew by 3.4 percent in 2016 compared to the year before, making up 9.5 percent of Dubai's total GDP. Additionally, manufacturing increased 31.2 percent in 2016, where industrial GDP reached AED35.6 billion in 2016. The results of the strategy showed that total industrial exports grew by 8.6 percent in 2016, reaching AED143 billion.
The UAE Ministry of Economy revealed that the total volume of investment in the industrial sector in the UAE, by the end of the first half of 2017, amounted to more than AED130 billion, marking an increase of 2 percent as compared to last year's results of the same period. The contribution of the industrial sector to UAE's GDP reached 16 percent, with efforts to reach 25 percent by 2025, where the sector is considered the largest contributor to GDP after oil and gas.
WAM/Rola Alghoul/Nour Salman
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