Dubai Industrial City to get new AED 293 mn medical manufacturing facility

Dubai to get new medical manufacturing facility: Dubai business park operator Tecom Group signed a Musataha land lease agreement with pharma company Ozon Pharma to set up a AED 293 mn medical manufacturing facility at Dubai Industrial City, in a bid to secure a consistent supply of high-quality medicines, Wam reports. The agreement was inked on the sidelines of Innoprom 2024.

Musataha? Musataha agreements grant investors the right to develop and own a plot of land and operate a project and maintain it for a long-term period, with ownership transferring to the government once the agreement elapses.

About the facility: The 150.7k sqft facility will comprise two phases, slated to operate at full capacity by next year. The first of the two — costing some AED 110 mn in investments — will produce over 300 mn tablets annually, and will employ some 100 specialists.