Dubai Maritime City (DMC), the world class facility for furthering maritime business, has posted revenues worth Dhs25m in 2011 and this is expected to expand further by 15% during 2012.
The Business District of the multi-purpose mixed-use facility was opened recently at a Grand Ceremony organised under the patronage of H.H. Sheikh Ahmed Bin Saeed Al Maktoum, Chairman of Dubai World, who received the commemorative Gold Anchor from Khamis Juma Buamim, Chairman of Drydocks World and Maritime World.
Speaking on the occasion, H.H. Sheikh Ahmed said, “We stress on creating business models and strategies based on non-traditional thinking, creative and innovative ways. There is a definite economic transition from West to East and from North to South. We believe that Dubai has the capability to attain leadership status in maritime related innovation and business.”
“Dubai Maritime City forms part of the vision of Dubai as a global hub and offers a unique environment for the growth and development of the maritime community and the international maritime and the Business District launch is yet another milestone in this journey towards excellence. We have received consistent interest from countries such as Japan, Singapore, Malaysia, Greece, Monte Carlo, Germany, India, U.S.A and from the Scandinavian region,” said Khamis Juma Buamim, Chairman of Drydocks World and Maritime World.
The City has significant investment from the United States, India, Norway, Denmark, Greece and Germany. More projects are expected to be signed in the immediate term.
The DMC development strategy meeting was held on July 2010 by the Supreme Committee chaired by His Highness Sheikh Ahmed bin Saeed Al Maktoum and provided a clear strategy and vision to the progressive development of the iconic City. The strategy is divided into three phases; Phase I involves operating the Maritime District, which was launched in March 2011; Phase II comprises of construction of additional infrastructure and building capacity based on growth; Phase III strives to complete all commercial aspects by year 2014.
The City supports a unique business model wherein specialized businesses of marine and related fields of activity are located adjacent to each other and in a symbiotic relationship. The services on offer will be diverse ranging from a society for naval pilots in the region, repair and build ships of all sizes, marine spare parts, financial services such as marine insurance and investment, specialized legal and ship registration services. In addition, the guidelines of the International Maritime Organisation in terms of maritime security, safety and environment protection will be observed and propagated.
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World Maritime News Staff, January 8, 2012; Image: Dubai Maritime City