The first phase of the iMPZ project, costing Dh1 billion and spread over 50 million square feet, is expected to be ready by that time.
Speaking to Khaleej Times on the sidelines of a news conference to announce Gulf Pack and Gulf Print show, which opens in Dubai today at the Airport Expo, Hamad Al Huraiz, director of operations, iMPZ, said that phase two, which mainly targets international companies in printing and publishing business, would involve at least the same amount of investment and space. He said the authority was currently studying the possibility of launching phase two depending on the demand generated by the first stage.
He said so far over 35 companies in printing and packaging business have joined the free zone, adding that the entire land allocated for the industry has been leased.
“We also have over 75 pre-built units, of which some 30 per cent has been already leased,” he said.
By December next year, the pre-built turnkey offices will be ready and tenants in printing and packaging business could further modify them to suit their requirements, he explained.
Al Huraiz also said work on the infrastructure, which started six months ago, has been progressing on schedule, adding that currently they are putting roads.
The world packaging industry is worth about $485 billion and growing at about five per cent annually, according to statistics provided by the World Packaging Organisation.
One of the highlights that Gulf Pack will be presenting at this year’s show is a comprehensive survey of the UAE’s packaging market, anticipated to reveal high rates of growth, according to the organisers.Featuring over 350 exhibitors from 43 countries Gulf Pack and Gulf Print has grown by a third in little over a year, according to Gulf Pack’s project manager, Sharla Hancock.
This step is expected to create around 12,000 jobs annually for UAE nationals in 2024 and 2025
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