Tecom reveals $1.5bn investment plans.

Tecom Investments has revealed plans to invest $1.5bn to develop an additional 1mn ft2 of office space across its business parks.

The master developer of Dubai's leading industry-focused business parks said at Cityscape Global that new plots would be released within and adjacent to current developments in 2015.

Badr Al Gargawi, CEO development & planning at Tecom Investments, said: 'Tecom Investments was born from the vision of His Highness Sheikh Mohammed Bin Rashid al Maktoum, Vice President and Prime Minister of the UAE, and Ruler of Dubai, to turn the Emirate into a knowledge economy with the announcement of Dubai Internet City in 1999.

'15 years and 11 thriving business parks later, we remain fully committed to this vision and focused on developing it further by continuing to master plan and deliver a portfolio of successful business parks.'

Al Gargawi continued: 'As the market has evolved, so has our product offering and the way in which we have adjusted our focus. Enabling the growth of communities and their enhancement is a significant priority for us and we are actively seeking investors who will become partners in developing the retail, residential and hospitality products that will support our core offering.'


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