Biotechnology research in Dubia will take a major step forward in 2015.
The DuBiotech Headquarters comprises two high-rise towers that provide more than half a million square feet of office space, less than 30 minutes from Dubai International Airport.
Completion of the development comes on the back of increasing demand by businesses for space in Dubai’s new growth corridor.
DuBiotech and EnPark, members of Tecom Investments, are business parks dedicated to fostering the growth of the life sciences and the alternative energy and environmental industries industry in the region.
The developers of the new site are already experiencing significant demand from businesses wishing to establish themselves in one of the fastest growing areas of the Emirate.
Marwan Abdulaziz, Executive Director of Tecom Investments’ DuBiotech & EnPark said: “The Headquarters will add further value to the healthcare sector in the region and will help us decrease the reliance on pharmaceutical imports by encouraging R&D and innovation.
“Our new facilities will enable us to continue to provide a platform that fosters a culture of collaboration among peer companies, so that we may achieve our part of the Government’s aim to develop a knowledge-based economy.”
The UAE has the highest annual sales per capita for medicines in the GCC, and the pharmaceutical market in the GCC has witnessed significant growth.
Companies that operate under DuBiotech and EnPark benefit from advantages of being licensed by a free zone, including 100% foreign ownership in a tax-free environment, a guaranteed 50-year exemption from personal, income and corporate taxes, full repatriation of profits and capital, and exemption of custom duty for goods and services