Project’s infrastructure to be developed in two phases
Al Ahli Group has announced plans to develop a one million sqft entrepreneur and media hub called ‘Nomad’. The project aims to enable and support the growth of local and international entrepreneurs.
The project will be located close to The Echo Plex and will focus on growing, incubating and funding talent. The development is to offer flexible office and working spaces and will boast ‘state of the art studios and makerspaces within the media, culinary arts, arts and design, and gaming and technology arenas; with one of the largest 3D printing facilities globally’.
Additionally, Nomad is to offer subsidised co-living arrangements, which Al Ahli says is important to budget conscious entrepreneurs who wish to live and develop a business in the UAE. The hub will also support SMEs and start-ups with business and legal framework. The Al Ahli group explains that operating costs will be significantly reduced and says that members will see their business boosted by access to its network of partners and consultants.
The project’s infrastructure will be developed over two years, with the first phase (co-working and studio resources and pilot co-housing community) launching at the end of 2018. The second phase will feature larger facilities and community development and is scheduled to launch at the end of 2019.
“The sheer size, scope and proposition of Nomad will put the UAE on the map as a global game changer when it comes to the type of creative, disruptive and outstanding entrepreneurship that will guarantee a bright, thriving future for generations to come. Nomad will make it entirely feasible for both local people, and those from outside the UAE, with fantastic business ideas and talent, to put down roots here and see their company grow, supported by a range of practical and financial support services and advanced on-site facilities,” said Mohammed Khammas, CEO of Al Ahli Holding Group.
Al Ahli believes Nomad will contribute towards the “Vision 2021” directive to create a competitive knowledge economy in the UAE by the year 2021.
Nikhil Shah, director at Frost & Sullivan added, “Our studies have shown that there is nothing like Nomad anywhere in the world and it’s very rewarding to have been so involved in its concept creation. It will be a thriving business and living community with a true sense of collaboration and community at its heart. It will make a huge impact on the way in which businesses can flourish for the greater good of a nation and will prove a standard bearer for radical innovation and economic sustainability.”
Nomad is also in line with the Al Ahli Holding Group’s goal of fostering creative entrepreneurship and innovation within the UAE.
Nomad’s Noora Khammas, chief executive architect, Al Ahli Holding Group concluded, “Nomad will be a prospering collaborative community where people can see their ideas and dreams come to life. They will not only work but also live alongside other talented individuals who share a common objective. The hassle and obstacles inherent in setting up a business and running it during the early years are taken away, while opportunities that would not normally be available, such as reduction in operational costs or access to specific niche markets, are automatically provided. That is a big deal because in the normal run of business, that process can take many years, hindering progress and dampening aspiration.”