Dubai Science Park (DSP), a holistic science-focused business community, said it has entered into an agreement with its existing business partner, Firmenich, the UAE branch of the world’s largest privately owned fragrance and flavour company, to build a new facility within the hub.

Set for completion in Q4 2020, the 38,064-sq-ft built-to-suit (BTS) project will be designed to support increased research and development (R&D) needs as Firmenich continues to grow in the region.

The UAE’s business-friendly environment and upward economic growth trajectory have encouraged overseas companies to expand their operations in the region, said a statement from DSP.

Serving the Middle East and Africa (MEA) markets, Firmenich is currently celebrating 10 years at DSP, being the first strategic business partner established on site in 2009.

With a net revenue of Dh13.5 billion ($3.67 billion), Firmenich is a leading manufacturer of fragrance and flavour ingredients worldwide. Building on its legacy of industry-leading organic growth, the company completed eight acquisitions over the past two years to expand its market reach.

The company’s client portfolio features leading names in the fine fragrances segment as well as leading FMCG multinationals. The new state-of-the-art facility will support Firmenich’s expansion plans.

DSP managing director Marwan Abdulaziz Janahi said: “We have been working with Firmenich for a decade and I believe that the robust infrastructure and collaborative environment at DSP provides an ideal location for the company’s new facility.”

“This project in particular is a prime example of our ongoing support that enables our business partners to meet their growth objectives, as the new facility will be built as per the fitout specifications,” remarked Janahi, who  is also the chairing member of the Pharmaceuticals and Medical Equipment Taskforce of the Dubai Industrial Strategy 2030.

“We are confident that Firmenich will bring added value to the local market in line with our mandate to support the development of target segments including agriculture, food, personal care and industrial biotechnology,” he added.

Arnaud Bachellier, vice-presidnet for Perfumery India, MEA and general manager of Firmenich, said: “We consider the MEA among the most dynamic regions in the world with significant business potential. DSP offered us a fantastic opportunity to better serve our customers in the region when we established our regional headquarters and laboratories here 10 years ago.”

“The construction of our BTS facility is the natural outcome of our solid growth and the strong partnership we have developed with DSP over the years,” he added.