21/10/2014 06:28 AST
The Department of Economic Development (DED) in Dubai and Tecom Investments’ Dubai Design District (d3) have signed a Memorandum of Understanding (MoU) to establish a framework that provides economic support for key services in Dubai Design District (d3).
The agreement will facilitate a number of initiatives that support the respective commercial and strategic objectives of DED and d3 to drive the economic growth and prosperity of Dubai.
The agreement, signed between Sami Al Qamzi, Director General of DED, and Dr. Amina Al Rustamani, Group CEO of Tecom Investments responsible for the development of d3, says the two entities will form joint teams and strategies to attract retailers, designers and entrepreneurs and promote their growth within d3.
“We are proud to have joined forces with d3 as it directly complements our dedication to providing UAE citizens and residents with the best possible services. This agreement allows us to demonstrate our capabilities in supporting vital Dubai projects such as d3 in doing business and achieving their objectives, whilst strengthening the economic status of Dubai. We look forward to collaborating with Tecom Investments on the development of d3,” said Al Qamzi.
Dr Al Rustamani commented: “Through working with DED, we will be able to create a positive environment that will enable d3 to grow into the most interactive, inspirational and smart urban space in the world. Due to its strategic location in the heart of Dubai, and the world-class design and infrastructure as engineered by some of the world’s experts in their field, we aim to create a truly creative space that allows the design industry of the UAE to flourish.”
Under the terms of the agreement, DED and d3 will share expertise on attracting foreign investment, supporting emerging designers, assisting the growth of SMEs, facilitating export development, and strengthening the overall retail sector to ensure a sustainable market for the designer’s products.
As an ecosystem for global design and creative minds, d3 will bring local talent and international luxury brands together in an inspiring, intelligently-curated space located in the centre of Dubai. The District also promises to deliver a unique cutting-edge lifestyle experience for businesses, workers, residents and visitors.
Adhering to the principle that ‘smart design’ lies at the heart of a Smart City, and as a greenfield pilot development for Dubai’s Smart City initiative the District will combine intelligent design and operational initiatives alongside advanced technological solutions to improve the all aspects of the community experience.
Together, DED and d3 will collaborate on integrating the Smart City concept into the District. The two entities will also devise strategies to attract innovative entrepreneurs and small and medium enterprises (SMEs) in the fields of arts, design, fashion and retail into d3. Business incubators and financing will be launched to foster entrepreneurs and their start-ups.
The agreement will see a percentage of d3 purchases going to members of Dubai SME, the DED agency mandated to develop the SME sector. Organising workshops and awareness campaigns as well as promoting regulations and licensing in the design sector for the benefit of d3 residents also come under the scope of the agreement.
Located close to Downtown Dubai and Business Bay, d3 is expected to be the creative hub in the Emirate’s flourishing design scene, with spaces for art, fashion and luxury outlets.
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