Originally estimated as a AED 4.5 billion(US$1.23m) real estate development, the Emirates Industrial City’s strategic location places it within an hour’s drive of major airports, seaports and other logistics hubs in Dubai, Sharjah and the Norther emirates. Two of the city’s eight main sections have been dedicated to ‘WarehouseCity’ for warehouses and logistics and, according to EIC, it has built 2 million square feet(186sqm.) of warehouses to lease. Launched in 2005 by the investment consortium Emirates Company for Industrial Cities (Led with Consortium and KAL Development Co.). The massive multi-use development covers a total of 83 million square feet (7.7 million sqm). The Emirates Industrial City accommodates more than 1,000 companies employing over 150,000 people.