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DUBAI: Dubai, by far a major global exporter of fashion and accessories, has taken a bold move to create a hub of design, innovation and creativity for the global fashion industry – with the launch of the Dubai Design District, according to industry watchers.
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, announced on Saturday that the Dubai Design District, a new complex to be established near Dubai’s Business Bay area, will be dedicated to Develop the emirate’s fashion, design and luxury industries.
The district will be operated by Tecom Investments, part of Dubai Holding, which has an impressive track record of creating, operating and growing successful industry-focused business parks in Dubai.
“Implementing a development strategy based on knowledge and innovation requires vision, strong coordination at the highest levels of government, and a participatory approach to mobilizing popular support for needed reforms,” Abdul Aziz Othman Altwaigiri, The Director-General of the Islamic Educational, Scientific and Cultural Organization said in a recent report.
“Sustained strategic efforts are needed to achieve tangible results and consolidate new practices so that they are sustainable in the medium to long term. The real challenge, especially for the private sector, is to increase competitiveness and define a ‘niche’ in the global economy market’,” he said.
The Dubai government had earlier created the region’s first knowledge cluster – Dubai Internet City, Dubai Media City, Knowledge Village, Dubai Studio City and the International Media Production Zone. The creation of the Dubai Design District is a natural progression of these clusters and will help realize the government’s vision of creating a world-class hub. Analysts say Dubai may not replace Milan or Paris as the fashion center of the world, but it could create a new one — a place where investment flows.
“The new fashion, design and luxury district builds on the strengths of Dubai’s tourism industry, which is expected to double visitor numbers to 20 million by 2020, while retail is expected to grow to Dh151 billion in the next two years Mu,” a statement from the Dubai government said. “These advantages, combined with Dubai’s strategic location and friendly business environment, have encouraged major industry players such as Prada, Louis Vuitton and Ralph Lauren to set up business in Dubai.”
The Dubai Design District will be an important part of this process as we look to achieve the targets set out in our Tourism Vision 2020 and it will provide an additional key element to Dubai’s bid to host Expo 2020, it said.
With this move, the emirate will now attract investment to develop creative fashion designs for the global luxury and consumer markets and will contribute to the growth of the industry.
“This is a step in the right direction and will help attract creative talent to relocate their base to Dubai – which will become part of the global fashion landscape,” said Khalid Maniar, Investment Advisor and Managing Partner, Horwath MAK Dr. told reporters. gulf news. “Dubai is already a hub for luxury and fashion. But, it has always been on the consumption side. The Dubai Design District will help the emirate blend Arabic design ideas with Western fashion — and that’s already happening.”
The Middle East luxury market grew between 10% and 15% from 2011 to 2012, making the region the tenth largest luxury market in the world. Dubai is at the heart of this achievement.
“The move is also well timed, as the country’s economy has started to grow and investors are looking back to Dubai for investment,” Dr Maniar said.
A statement from the Dubai government said the area is poised to become a full-service business hub for design industry-related organisations, brands and supporting businesses in the value chain.
“It will feature a bespoke creative community with purpose-built commercial and retail facilities for established and emerging designers, design agencies, a promenade, conference center and events venue, and associated academic institutions,” it said.
The UAE also took second place in the 2011 Clothing Index, driven by a population with high disposable income and a strong sense of style.
Dubai’s rapid growth in fashion, luxury and retail is exemplified by the success of The Dubai Mall, the world’s largest shopping and leisure destination, which welcomed 65 million visitors last year – more than the number who visited New York in 2012 .
The move is expected to contribute to Dubai and the regional economy by attracting investment, creating direct and indirect employment opportunities, and increasing value-added exports of fashion and luxury goods.
“Dubai has until now been a market for consumer goods and high-end luxury fashion. This move will change that. The Dubai Design District will help new fashion brands emerge from here and ultimately help the growth of the global fashion industry – the global fashion industry challenged by the European financial crisis,” Jitendra Gianchandani, chairman of investment advisory firm Jitendra Chartered Accountants, told Gulf News.
“Dubai Design District will be another bright spot in Dubai. So far, Dubai has successfully attracted investors in various free zones based on exclusive activities, such as media free zone, internet city and healthcare. Then why not fashion and design Woolen cloth?
“In a country where fashion and luxury are shared and experienced in more than 200 countries with a multicultural environment, this will help drive the ancillary industries of fashion, design and luxury,” he said.
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