Dubai Internet City, a part of TECOM Group, has reported a remarkable customer growth of over 17.5% in the first nine months of 2024, surpassing 4,000 businesses and expanding its talent pool to over 31,000 professionals. This growth underscores the hub’s pivotal role in the Middle East’s digital economy.
As Dubai Internet City marks its 25th anniversary, it stands as a pioneering hub uniting global technology leaders and talent. Established on 29 October 1999 by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, the city was created to leverage emerging technologies and bolster the UAE’s knowledge economy. In a significant recognition, the United Nations Educational, Scientific and Cultural Organization (UNESCO) has designated 29 October as World Coding Day.
With a legacy of empowering global technologists to drive socioeconomic transformation, Dubai Internet City continues to attract multinational corporations, start-ups, and Fortune 500 companies. In 2024, customer numbers grew to over 4,000, while the community of tech talent has expanded significantly, highlighting the city’s appeal to global innovators.
“Guided by the visionary leadership of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Dubai Internet City has been a launchpad for tech pioneers and the epicenter of the regional digital economy since its inception,” stated Ammar Al Malik, Executive Vice President of Commercial at TECOM Group and Managing Director of Dubai Internet City. “Our ecosystem has played a crucial role in driving impactful innovation from Dubai and encouraging the adoption of advanced technologies like artificial intelligence (AI).”
Dubai Internet City serves as the regional base for leading companies innovating in sectors including fintech, blockchain, AI, and Web3. Notable Fortune 500 firms, such as Oracle, SAP, Dell, HP, and tech giants like Amazon, Google, LinkedIn, and Tencent, have established their presence in the district. The area is further enhanced by 19 innovation and research and development (R&D) centers operated by industry leaders, including 3M, IBM, and Cisco.
The commitment of Dubai Internet City to advancing the digital economy is reflected in the successes of its tenants. In April 2024, Microsoft made a substantial AED 5.5 billion investment in the UAE to accelerate AI development and enhance regional talent competitiveness. Recently, Salesforce inaugurated its Dubai Internet City office, emphasizing its dedication to the region’s growing digital landscape. Furthermore, Hisense launched a cutting-edge R&D center in the district to provide climate-friendly solutions tailored for the Middle East.
Dubai Internet City has a strong history of fostering entrepreneurial success, marked by Yahoo!’s acquisition of Maktoob in 2009 and the notable acquisition of Careem by Uber for AED 11.3 billion in 2020—an event that became the first unicorn exit in the Middle East and North Africa (MENA) region. Additionally, Amazon’s acquisition of Souq.com in 2017 significantly reshaped the regional e-commerce landscape, while Tabby emerged as MENA’s first fintech unicorn, showcasing the district’s role in supporting groundbreaking start-ups.
Looking ahead, Dubai Internet City is focused on promoting collaboration and knowledge sharing by co-locating industry giants, thereby securing the ongoing growth of the digital economy. Recent investments exceeding AED 1.9 billion have been made to meet the evolving needs of global tech companies, including the acquisition of premium office spaces like Office Park and the expansion of the Innovation Hub. The first phase of the Innovation Hub is fully occupied, housing industry leaders like Gartner and China Telecom, with subsequent phases set to add over 530,000 square feet of premium office space.
Dubai Internet City is one of TECOM Group’s ten sector-specific business districts, which include Dubai Media City, Dubai Studio City, and Dubai Design District (d3).
For more details, please check the tweet from His Highness Sheikh Mohammed bin Rashid Al Maktoum: Link to Tweet.
