September 14, 2021 by archyde
Dubai: «The Gulf»
Dubai Investment Development Corporation, one of Dubai’s economic institutions, continues to support Himalaya Wellness’s initiatives to enhance its presence and business in Dubai. With over 90 years of experience, Himalaya is one of the world’s leading producers of herbal medicines, nutritional supplements, skin care, hair, oral care, dental care, infant care and animal health, with more than 300 products in these categories.
Himalaya Wellness, with the support of the Dubai Investment Development Corporation, was one of the first companies to take advantage of the amendments to the Federal Commercial Companies Law in June 2021, working to convert its license to a company with 100% foreign ownership. In August 2021, the company signed an agreement to set up an herbal medicine factory worth 120 million dirhams, to produce three billion tablets and 15 million bottles of syrup annually, in addition to three million packages of ointment in Dubai Industrial City – one of the largest manufacturing facilities and logistics centers in the region. Commercial production at the new facility, which covers an area of 760,000 square feet, will begin in the first quarter of 2024, when the company expects to employ 350 people in addition to working with about 1,000 people as business partners and project participants.
It is reported that Himalaya has pioneered the use of modern science to discover the secrets of nature and employ them through advanced research. Founded in 1930 and focused on developing safe, natural and innovative products to help people live healthy lives, the company’s new global research center is set to be a milestone in its impressive journey. The new 92,000-square-foot facility will utilize prefabricated units in Dubai Science Park – the integrated science-based business park in Dubai City, to form an extension of the company’s research center that has been operating in the laboratory complex at Dubai Science Park since 2013. The new headquarters is expected to attract Global talent owners and creates more than 100 jobs.
Fahad Al Gergawi, CEO of Dubai Investments Development Corporation, said: “Himalaya’s investments cover a number of strategic focus areas such as research and development, manufacturing and retail. As the company achieves strategic growth and strengthens its presence and investments in the UAE, its expansion is a testament to our stimulating growth environment and our willingness to collaborate with major investors in the sector. Dubai Investments Development Corporation has supported Himalaya since its first investment in 2013, and we are pleased to witness the fruits of that cooperation as the company enhances its growth and expansion in Dubai.
Shilandra Malhotra, Global CEO of Himalaya Wellness, said: “As we continue to strengthen our global position as a scientifically conscious, problem-focused, integrated herbal product brand, we are absolutely confident that Dubai is the perfect destination for us. Dubai’s advantages are not limited to providing excellent infrastructure and ease of doing business only – it is a city that has the will and ability to work, helping to implement large projects smoothly and quickly. Attracting quality world-class skills to Dubai is also much easier, which is critical to our efforts to build a prestigious R&D facility, which will set future standards for R&D and innovative herbal products. Himalaya’s message of ‘Health in every home and happiness in every heart’ fits perfectly with Dubai’s development philosophy, and we are very grateful to Dubai Investments Development Corporation for their continued support at every stage of our expansion.