Dubai-based developer Meraas and Dubai SME – the agency of the Department of the Economic Development (DED) in Dubai mandated to develop the small and medium enterprise (SME) sector – have signed a partnership to launch Al Seef SME District. It is set to be an innovation hub within Al Seef, the bustling waterfront promenade with a distinct legacy and contemporary spirit.
Paying tribute to the emirate’s origins as a commercial trading port, the hub will showcase a variety of new businesses, from across the design, fashion, F&B and information technology industries, an opportunity to set up and thrive in its enabling ecosystem.
The partnership was announced at an official signing ceremony that took place in Al Seef. Sally Yacoub, chief malls officer at Meraas, and Abdul Baset Al Janahi, CEO of Dubai SME signed the memorandum of understanding (MoU), in the presence of senior representatives of the two entities. The MoU reinforces the shared commitment of Meraas and Dubai SME to shaping Dubai into a competitive and diversified global start-up hub that prioritises innovation in line with the objectives of the UAE Vision 2021.
“Dubai has created a number of globally competitive SMEs and the UAE’s growing emphasis on innovation is a remarkable opportunity to nurture and sustain our SME success story. For Dubai SME, a key focus is on identifying the best locations and partners to enable local SMEs, particularly those in the fast-emerging and cutting-edge sectors, to innovate and grow. And Al Seef SME District is a reiteration of our commitment,” says Al Janahi.
Al Seef SME District will infuse an entrepreneurial spirit across the destination and reflect its dedication to creating new and exciting experiences for locals and visitors alike. The space will offer essential infrastructure for resident SMEs, from a ‘connected’ work environment to collaboration rooms, and other office facilities.
“Al Seef benefits from Dubai’s strategic geographical position and is successfully drawing in both business and leisure travellers. We are confident that the establishment of Al Seef SME District will testify to the destination’s commitment to leveraging its infrastructure to shape hubs that enable Dubai’s residents to thrive in new and exciting ways. We are keen through this partnership to position Al Seef as more than just a retail destination – we hope to see it become a prime contributor towards Dubai’s overall development,” adds Yacoub.
Meraas’ alignment with Dubai’s strategic objectives to shape a city of happy, creative and empowered people, has driven the growth of its dynamic portfolio of lifestyle destinations, including Al Seef.