Dubai Investments Park close to full occupancy in final phase

Dubai Investments Park (DIP), a wholly owned subsidiary of Dubai Investments, has leased more than 950,000 square feet of warehousing facilities in the first six months of 2014, it said in a media statement on Sunday.

This corresponds to 10.5 per cent increase in warehousing leases between January and June 2014 compared to the corresponding period last year.

Of these, 60 per cent of new leases include readymade facilities for light and medium industries, while 20 per cent were for logistics services and the rest for general storage and warehousing purposes.

DIP had last year announced the launch of phase 8 – the final phase of the 2,400-hectare mixed used development – and according to Omar Al Mesmar, General Manager of DIP, it is now close to reaching full occupancy.

“DIP is rapidly reaching full occupancy in Phase 8 and we are among the best-equipped mixed-use developments in the region with unmatched infrastructure,” he said.

In all, 86 new companies took up warehousing facilities in the first half of 2014, with a significant addition to tenants within the industrial and commercial zones.

Al Mesmar said the community is geared up to leverage the increasing investor confidence inDubai and UAE amidst Expo 2020 bid win. “Businesses across the UAE and beyond are looking for world-class facilities at strategic trade points across Dubai, and DIP offers this in unequalled measure,” he added.

Warehouses within DIP allocate a maximum of 10 per cent of its built-up area for office space, providing companies with the opportunity to have office and warehousing operations under one roof and efficiently manage their logistics needs.

“We hope to deliver several many more milestones in the near future,” said Al Mesmar.
 

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