During the past year, Dubai Outsource Zone (DOZ) has increased in area from 3 million square feet to 33 million square feet.
DOZ, part of Dubai Technology and Media Free Zone, has registered about 72 companies and is likely to be fully operational by January 2007 according to Gulf News.
"Looking at the high demand from the international, regional and local markets, we have expanded our base," said a company official. The company expects 350 to 400 companies to commence operations in the next five years.
DOZ claims to offer investors cost-friendly services when compared to similar zones in other countries including India, US and Philippines, saying that it is the perfect base for companies that provide mid to high-end IT and business processes outsourcing (BPO) services. Some of the key sectors covered are finance, accounting, IT, payroll processing, graphic design, engineering, biotech, R&D and design.
Over 85 per cent of the land and office space in the Phase-1 has been sold.
Seventy-two registered companies with DOZ will commence operations with land being handed over to about 20 firms including ABN Amro, Jumeirah Group, Dubai Holding Share Services, Mashreqbank, du, the UAE's second operator and Mena Business shortly. Phase-2 will become operational in the first quarter 2007 and attract over 4,000 people.
