Education is the key that unlocks the door to progress and builds a nation. A developed nation is one where developed minds prevail. Dubai, a well- known city of the United Arab Emirates (UAE) is progressing at a massive speed towards development and is considered to be one of the most promising cities in the near future. The city has been tirelessly working towards “Vision 2021” from a long time and providing incentives that will act as a driving force for business setup in Dubai. Six sectors were stated as “national Priorities” that cover Healthcare, Competitive Knowledge Economy, Public Safety and Fair Judiciary, Cohesive Society and Individual Identity, First-Rate Education System, World-class Infrastructure and the Environment.
Dubai Academic City | The Education Hub
Dubai Academic City (DAC) is a free zone established in the year 2006 by TECOM Investments and covers an area of almost 129 million square feet. Its aim is to make Dubai an education hub, an initiative the Dubai Knowledge Village (DKV) is also a part of. DKV has got a large network connection with multi-national universities worldwide. Down the line, after the initiation of DAC, DKV and DAC joined their hands to boost and bring a positive slope in the educational sector. Dubai Academic City also embraces Dubai International Academic City (DIAC), that includes nearly 28 international universities and provides a platform for nearly 450 courses, with a strength of 24,000 learners. According to a report published in 2017, DIAC holds the largest number of branch campuses in the world. They also hold an incubation center that encourages the budding entrepreneurs and their business partners to present their business ideas.
Why Students Prefer Dubai Academic City?
Dubai has been an emerging geographic and financial hub that provides opportunities for learners to get an exposure to international learning. Students are exposed to different benefits that help them to grow and develop in every possible way.
- Career fairs are held every year for postgraduates and graduates that give them an exposure to industry insights and it brings corporate leaders and students under one roof
- Cost of living is relatively low as compared to other global cities
- Workshops are held new businesses - Small Business Incubator (SBI)
- The student identity card is recognized worldwide and helps them to get a student discount on every means of transport
Milestones Achieved by Dubai Academic City
Dubai Academic City has successfully established itself to be a world educational hub. Let’s see some of its milestones and industry insights.
- Launched industry and university partnerships in 2014 that helps students to get an exposure towards industry insights, research activities
- Launched Deloitte Workforce Planning Study for research projects worldwide
- The Dubai Academic Center got in partnership with Amity University in 2012 and launched the Amity Dubai Campus
- JAWAZ, an international identity card was launched for students
- According to 2018 survey, Gulf countries are seeking out for graduates and are also encouraging entrepreneurship for a better future
- DIAC is constructing a student housing community “The Myriad”, to be completed by 2020
Dubai Academic City | A Business Center
Surprised? Well, let me tell you that Dubai Academic City (DAC) not only encourages or promotes educational institutions but also acts as a platform for other businesses for their setup. DAC is keenly interested in inviting foreign investors to set up their businesses in the campus and help the center and the nation grow. Let’s have a look at the business options that they provide for foreign investors.
Being an institutional hub and a home to a lot of international institutions, the free zone does have shopping malls, retail outlets, and apartments in its arena. The center has an open option for investors who want to establish their businesses.
2. Business Spaces
Carrying out different businesses involves different types of space wherein it fits. Dubai Academic Center provides specific business spaces based accordingly the type and size of employees. These include a hot desk, executive desk, and commercial spaces.
A hot desk is generally provided to budding startups, and office space is shared among various clients operating different businesses. Executive desks are provided to businesses that have few employees. Furnished desks and chairs are provided within an area coverage of almost 100 square feet.
Moving further, they also provide commercial spaces that are mostly open spaces and are designed in such a way that the business activities can be carried out with ease. Such spaces are a bit costly as compared to the above-mentioned space categories and they also hold facilities like projectors, etc.
3. Retail and Kiosk Spaces
Dubai Academic City (DAC) has convenient retail stores and kiosk spaces inside the DIAC campus for the ease of students.
Types of Companies in Dubai Academic City
As mentioned, the center provides opportunities to foreign investors to build and grow their business. Let’s have a look at the types of companies that can be incorporated within DAC.
1. Free Zone Limited Liability Company
Such companies possess their own legal identity. The amount of incorporation depends upon the nature of the business.
2. Branch of a Foreign or Home Company
DAC welcomes any foreign or home company to initiate its branch in DAC campus.
This provides a platform to individuals who want to be a freelancer professional and thereafter can establish their sole proprietor company on their own name.
Dubai Academic Center provides multiple options for multiple businesses. Does your business type match the one mentioned above? Willing to open your own store or expand your brand in the educational hub? Yes? Great! Now all you need at this point is to have a guide to help you in setting up your business entity. This is where Commitbiz comes into the picture. We help you establish your dream business in different free zones in Dubai. Our business experts guide you in clearing the legal proceedings and kick-start your business. To proceed further, do contact us. We would be glad to assist you in your business-setup process.