Dubai Industrial City, a part of TECOM Investments, has announced the launch of a Halal cluster, which would help drive the growth of halal food, cosmetics and personal care sectors in the UAE.
Spread across nearly six million square feet of area, the cluster will have a fully separated industrial block adjacent to a transportation infrastructure, accommodations for residential and retail communities along with built and ready to use warehouses and showrooms.
The cluster has been established through collaboration with Dubai Islamic Economy Development Centre, Standards Department at Emirates Authority for Standardisation and Metrology (ESMA) and the Dubai Municipality.
“With the wise vision of its leadership, the UAE has shown the world that we have much to offer, and that we are ready to welcome foreign investment and expertise, while sharing our local knowledge and providing a safe and stable environment in which businesses can thrive,” said Abdullah Belhoul, CEO of Dubai Industrial City.
The Halal cluster is also expected to boost Dubai’s ambitions of becoming a capital of Islamic economy and will help the emirate tap into the global halal market.
“The centre intends to work closely with its stakeholders, both in the public and private sectors, to streamline efforts and to align the incentives offered to halal businesses, resulting in an enabling environment for the halal industry,” said Abdulla Mohammed Al Awar, CEO of Dubai Islamic Economy Development Centre.
“Today, Dubai Industrial City has offered a solution that addresses the needs in the industrial Halal sector. By leveraging the dynamic infrastructure of Dubai’s other platforms, we will be able to address the other halal industry sectors.”
The global market size of halal products has been growing with Muslims alone estimated to be spending over $1 trillion for food and more than $26 billion in cosmetics and personal care. This is further expected to increase by 50 per cent in the coming five years to reach $1.6 trillion and $39 billion respectively.
The GCC region itself is an attractive market for halal products with the food market estimated to be worth $85 billion while it amounts to $237 billion in other MENA countries. The UAE is the 14th largest market in the world with a value of $20 billion.