Dubai Internet City celebrates its 25th anniversary as a pivotal force in the Middle East’s digital economy and as an innovative hub that brings together leading global technology firms and talent.
Inaugurated on October 29, 1999, by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, Dubai Internet City was established to harness the growing potential of emerging technologies and bolster the UAE’s knowledge-driven economy. In 2023, His Highness Sheikh Mohammed announced that the United Nations Educational, Scientific and Cultural Organisation would designate October 29, the day Dubai Internet City was launched, as World Coding Day.
Growth and impact
With a rich history of empowering technology professionals to effect socioeconomic change, Dubai Internet City’s ecosystem has expanded in 2024 to encompass multinational corporations, start-ups, and Fortune 500 companies, attracting the world’s brightest minds to collaborate and innovate. In the first nine months of 2024, the number of businesses in the community surged over 17.5 percent, surpassing 4,000 compared to the same timeframe in 2023. Additionally, the tech talent community at Dubai Internet City has grown to over 31,000 professionals, underscoring the area’s appeal to global technologists.
Commitment to the future
Ammar Al Malik, executive vice president of Commercial at TECOM Group and Managing Director of Dubai Internet City, noted that under the visionary guidance of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Dubai Internet City has functioned as a launchpad for generations of tech innovators and has been the epicenter of the regional digital economy since 1999. He emphasized that for 25 years, Dubai Internet City has played a crucial role in facilitating globally significant innovations from Dubai, making substantial contributions to digital transformation efforts and promoting the adoption of advanced technologies such as artificial intelligence (AI).
He also mentioned that the community has been instrumental in establishing Dubai as a preferred global hub for technology, innovation, and AI enterprises. Furthermore, he expressed a commitment to enhancing their legacy of fostering socioeconomic growth by cultivating a cohesive ecosystem for global technology firms and talent, which would drive comprehensive progress and elevate contributions to the digital economy, in alignment with visionary initiatives like the Dubai Economic Agenda ‘D33’.
Home of giants
Dubai Internet City serves as the regional headquarters for companies at the forefront of innovation across various sectors, including fintech, blockchain, AI, and Web3. It hosts Fortune 500 leaders in software, such as Oracle and SAP, alongside hardware giants like Dell and HP. Cloud computing leaders like Amazon and Google, social media platforms such as LinkedIn and Snapchat, and gaming titans like Sony and Tencent are also part of this dynamic ecosystem. Additionally, the district is home to electronics companies such as Huawei and Motorola, as well as fintech pioneers like Mastercard, Visa, and Stripe. This vibrant community is further bolstered by 19 innovation and research and development (R&D) centers operated by global leaders, including 3M, IBM, HP, Ericsson, and Cisco.
Recent developments
Dubai Internet City’s dedication to expanding the digital economy and fostering innovation is evident in its customers’ achievements. In April 2024, Microsoft announced a significant AED5.5 billion investment to enhance AI development and global expansion, as well as initiatives to boost the regional talent pool’s competitiveness. Earlier this month, Salesforce unveiled its new office in Dubai Internet City, reaffirming its commitment to supporting the region’s burgeoning digital economy and expanding its customer service. Global home appliance leader Hisense also established a cutting-edge R&D center in Dubai Internet City last month, focusing on climate-friendly solutions tailored for the Middle East.
Nest of unicorns
Dubai Internet City has a rich legacy of nurturing entrepreneurial success, beginning with Yahoo!’s acquisition of Maktoob in 2009, a landmark event that highlighted the rise of Arab entrepreneurs. Over the past 25 years, the district has been the birthplace and backdrop for significant tech acquisitions, such as Uber’s landmark AED11.3 billion purchase of Careem in 2020—the first unicorn exit in the Middle East and North Africa (MENA) region—as well as Amazon’s acquisition of Souq.com in 2017, which transformed the regional e-commerce landscape. Moreover, Tabby, recognized as the MENA region’s first fintech unicorn, also emerged from Dubai Internet City, demonstrating the district’s vital role in fostering groundbreaking start-ups and companies on the global stage.
Hub of the future
Dubai Internet City continues to promote collaboration, knowledge sharing, and the development of cutting-edge advancements by co-locating global industry leaders, ensuring the sustained growth of the digital economy. Recent investments exceeding AED1.9 billion, including the acquisition of premium office spaces like Office Park and the ongoing expansion of the Innovation Hub, reaffirm the district’s commitment to meeting the evolving needs of global tech companies.
Innovation hub expansion
Launched in 2018, Phase 1 of the Innovation Hub is now fully occupied, housing industry leaders such as Gartner and China Telecom. Phases 2 and 3 of the Innovation Hub at Dubai Internet City, representing an investment of over AED780 million, will add more than 530,000 sq. ft. of premium office space to the district. Phase 2 is fully leased ahead of its anticipated completion in 2025.
Part of a larger ecosystem
Dubai Internet City is part of TECOM Group’s portfolio, which includes 10 sector-specific business districts such as Dubai Media City, Dubai Studio City, Dubai Production City, Dubai Knowledge Park, Dubai International Academic City, Dubai Science Park, Dubai Industrial City, and Dubai Design District (d3).
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