SmartCity is the result of JV (joint venture) of two companies. It is promoted by TECOM Investment and SAMA Dubai. Main goal of this joint venture is to build up and administer the Knowledge Industry Townships in whole world. TECOM is contributing its specialized skill in creation and management of knowledge based industry clusters, while SAMA Dubai is investing its strength in real estate development in the international market to create an infrastructure and environment catered to the requirements of knowledge based companies and knowledge workers in this joint venture.
On the JV, SmartCity, Mr. A. Bin Byat, Executive Chairman of TECOM Investments, Mr. Farhan Faraidooni, Executive Chairman of SAMA Dubai and Mr. A. Almulla, CEO of TECOM Investments has expressed their views.
Expressing their observations on this JV, Mr. A. bin Byat articulated his view that the SmartCity project is part of TECOM’s worldwide expansion plans of growing into an internationally diversified organization, and becoming the favorite provider of knowledge based business parks all over the world. Further he said that SAMA Dubai’s well-known presence as the international real estate development and investment arm of Dubai Holding makes them our ideal partner. He said that he is confident that his complimentary fit and shared objectives will allow them to ‘push the envelope’ on value creation. While using the Dubai Internet City, Dubai Media City and Dubai Knowledge Village models as their reference point, they will make use of an approach that will break new ground for others to follow.
Mr. Faraidooni said that through the above mentioned venture, they aim to take forward the success that Dubai has got in the creation of knowledge based industries globally.
