Dubai Internet City (DIC) is commemorating a significant milestone its 25th anniversary as a vital enabler of the digital economy across the Middle East. Established as a pioneering hub that brings together leading figures and talents from the global technology sector, DIC was inaugurated on October 29, 1999, by His Highness Sheikh Mohammed bin Rashid Al Maktoum, the Vice President and Prime Minister of the UAE and Ruler of Dubai. The initiative was launched to harness the potential of emerging technologies and bolster the knowledge-based economy of the UAE. Notably, in 2023, Sheikh Mohammed announced that UNESCO would recognise October 29, the date of DIC’s unveiling, as World Coding Day.
With a robust legacy that has empowered technologists worldwide to instigate socioeconomic change, DIC’s ecosystem now comprises a thriving community of multinational corporations, startups, and Fortune 500 firms. This vibrant environment attracts some of the brightest minds in the industry, fostering collaboration and innovation. As of 2024, the number of businesses operating within DIC has surged by over 17.5% in the first three quarters, surpassing 4,000 enterprises compared to the previous year. Furthermore, the number of technology professionals at Dubai Internet City has surpassed 31,000, showcasing the city’s appeal to tech talent from around the globe.
Due to the forward-thinking guidance of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Dubai Internet City has served as a springboard for numerous technology innovators and a vital contributor to the regional digital economy since its establishment remarked Ammar Al Malik, Executive Vice President of Commercial at TECOM Group and Managing Director of DIC. Throughout the last 25 years, Dubai Internet City has been instrumental in driving substantial innovations that resonate on a global scale. We have significantly contributed to digital transformation efforts and have promoted the integration of advanced technologies such as artificial intelligence (AI).
Al Malik also emphasised DIC’s role in solidifying Dubai’s status as a premier global hub for technology, innovation, and AI companies. We are dedicated to building on our legacy of promoting socioeconomic advancement by cultivating a cooperative environment for technology companies and talent, which will stimulate holistic growth and strengthen our contributions to the digital economy. This effort aligns with ambitious initiatives such as the Dubai Economic Agenda ‘D33’.
The Hub of Innovation
DIC serves as the regional headquarters for a multitude of organisations at the forefront of innovation, spanning areas such as fintech, blockchain, AI, and Web3. The district is home to renowned Fortune 500 companies, including software giants like Oracle and SAP, hardware leaders like Dell and HP, cloud services providers such as Amazon and Google, as well as social media platforms like LinkedIn and Snapchat. Additionally, gaming industry powerhouses like Sony and Tencent join electronic giants such as Huawei and Motorola, alongside fintech trailblazers like Mastercard, Visa, and Stripe.
The ecosystem at DIC is further bolstered by 19 innovation and research and development centres operated by global leaders, including 3M, IBM, HP, Ericsson, and Cisco. These facilities are pivotal in advancing the digital economy and nurturing a culture of innovation.
The commitment of Dubai Internet City to fostering innovation is evident in the achievements of its tenants. In April 2024, Microsoft made headlines by announcing a AED 5.5 billion investment aimed at accelerating AI development and enhancing its global operations, as well as investing in skills development initiatives to bolster the regional talent pool’s competitiveness. Earlier this month, Salesforce also made a significant move by establishing its office at DIC, signifying its dedication to the expanding digital economy in the region and reinforcing its support for a growing customer base. Moreover, the global home appliance leader, Hisense, inaugurated its state-of-the-art R&D centre at DIC, focusing on delivering environmentally friendly solutions tailored for the Middle East.
A Legacy of Nurturing Unicorns
Dubai Internet City has a rich history of nurturing entrepreneurial ventures that have made a lasting impact. A pivotal moment came in 2009 when Yahoo! acquired Maktoob, marking a significant milestone in the journey of Arab entrepreneurs. Over the last 25 years, DIC has been the birthplace of some of the most notable tech acquisitions in the region. Noteworthy transactions include Uber’s acquisition of Careem in 2020 for an astounding AED 11.3 billion, which represented the first unicorn exit in the Middle East and North Africa (MENA) region, and Amazon’s purchase of Souq.com in 2017, a transformative move for the regional e-commerce landscape. Additionally, Tabby, recognised as MENA’s first fintech unicorn, was also nurtured within the supportive environment of DIC, underscoring the district’s role in empowering startups and elevating them to the global stage.
Shaping the Future
The ecosystem at Dubai Internet City continues to foster collaboration, knowledge exchange, and the advancement of cutting-edge technologies through the co-location of industry leaders. Recent investments exceeding AED 1.9 billion in premium office spaces, including the Office Park, alongside the ongoing expansion of the Innovation Hub, reaffirm DIC’s commitment to addressing the evolving needs of global technology firms.
Launched in 2018, Phase 1 of the Innovation Hub is fully occupied, housing industry leaders like Gartner and China Telecom. Phases 2 and 3 of the Innovation Hub, representing a total investment of more than AED 780 million, will introduce an additional 530,000 sq.ft. of premium office spaces to the district, with Phase 2 already fully leased ahead of its anticipated completion in 2025.
As part of TECOM Group’s diverse portfolio of 10 sector-specific business districts, which also includes 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), Dubai Internet City remains at the forefront of transforming the digital landscape in the region. With a commitment to fostering innovation and a vision for future growth, DIC stands as a beacon of hope and opportunity in the ever-evolving world of technology.