In the presence of His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council Dubai; and His Highness Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, Chairman of the Mohammed bin Rashid Al Maktoum Knowledge Foundation, President of the UAE National Olympic Committee; His Highness Sheikh Ahmad Bin Saeed Al Maktoum, President of Dubai Civil Aviation and Chairman and Chief Executive of Emirates Airline and Group presented Dubai Holding, the global investment holding company, with the Mohammed bin Rashid Award for ‘Best Supporting Entity to the Government Procurement Programme in the UAE' at the 10th edition of the Mohammed Bin Rashid Award for Young Business Leaders (YBL).

The award recognises Dubai Holding’s contribution to the development of the SME sector in Dubai. In 2017, the Group signed contracts valued at AED 66 million with local companies and allocated AED 71 million to support the growth and development of the SME sector.

Edris Alrafi, Chief Executive Officer at Dubai Holding commented “Dubai Holding has always played a key role in the implementation of Dubai’s diversification plan. We believe that supporting Dubai’s entrepreneurial ecosystem is the key to allowing innovators to thrive and succeed. Through our various business communities and incubator programmes, such as ‘in5’ and ‘in5 Media’, we aim to transform Dubai into an innovation-driven city, built on the principles of sustainability, efficiency, and creative thinking. We are honoured to accept this award today and we are proud to help enhance Dubai’s position as a hub for entrepreneurship.”

The Mohammed Bin Rashid Award for Young Business Leaders (YBL) aims to create a competitive environment amongst the young entrepreneurs in the UAE and the Arab countries. It also recognises those individuals and organisations who have aided in the development of entrepreneurs in the UAE.

In 2016, Dubai Holding signed a Memorandum of Understanding (MoU) with Dubai SME aimed at providing attractive incentives for start-ups to operate within its business entities, such as TECOM Group, Jumeirah and Dubai Properties.