The new Cyberjaya City in the province of Jeddah is fast rising to stardom status as the next IT hub of the Middle East. The emirate is located on the Red Sea coast about 40 kilometres north of Dubai, the capital of the United Arab Emirates. In recent years, more than a dozen international corporations have established their headquarters here, which is why the city has experienced an impressive boom in its tourism industry. But what is behind the rapid development of this unique city?
What drives the city’s rise to the forefront of the rapidly growing IT industry in the region?
The city has long been a key destination for business and leisure travel throughout the Peninsula and beyond. In fact, the first British Petroleum Corporation (BP) established its North American operations in Jeddah in the early part of the last century. With the advent of modern air travel, trade and communication, the city has expanded into an important commercial, administrative and technological centre in the UAE. Today, it houses the worlds’ tallest and most technologically advanced office building, as well as numerous other buildings, facilities and amenities designed to support business activities.
Apart from being a thriving cyber business hub, cyberjaya also offers a diverse range of recreational options to the people who are in search of fun and recreation. The town boasts of a wide range of golf courses, beaches, parks and other outdoor recreational spots. Moreover, the city is home to numerous topnotch cyber sports companies that allow their clients to indulge in thrilling gaming and simulation. A number of multinational companies, investment firms and international casinos also operate their businesses in cyberjaya. All such establishments offer a wonderful and safe haven for entertainment and relaxation to their employees and clients.
This bustling city has undergone substantial transformation due to its rapid growth and development in the IT and business sectors. However, despite the exuberant and burgeoning business environment, cyberjaya still retains its cosmopolitan charm and elegant refinement. The tolerant and hospitable local population has successfully co-existed with the rapid influx of expatriates, tourists and foreigners to the city. Despite the heavy influx of visitors, the lifestyle in the city remains vibrant and dynamic.
The rise of numerous internet technology companies in the region has led to an increased demand for cyberspace and real estate in the city. As a result, many multinational companies have established their headquarters in the region to establish their bases in the new venture economy. These companies, in turn, form a huge attraction for the local and foreign investors, who are keen on establishing a base in the city. The government of the emirate is taking measures to mitigate the impact of these companies on the economy, by providing several financial incentives. This is why the city has established a number of financial and business hubs to accommodate the influx of the major players in the IT industry.
The high-speed internet network in cyberjaya has also made the city a hub for IT professionals and job seekers. These professionals are in great demand, as they find the salaries in the city well above the rest of the Gulf Cooperation Council countries. Besides regular job opportunities in IT companies, there are a host of jobs available in high-end real estate projects and franchise operations in the city. Therefore, the rising demand for real estate and the thriving real estate market in the city have resulted in a spurt in the number of real estate agents and property professionals in the city.
