Investment in the third largest non-real estate project in Dubai Industrial City (DIC), will exceed $15 billion (Dh55bn), according to the project’s CEO.
Dubai Industrial City, which aims to become one of the top industrial parks in the world, will see $15bn in capital flows, including third-party investments, the cost of infrastructural development and the establishment of labour cities, said Rashed Al Ansari, CEO of Dubai Industrial City.
“We have a goal of developing and nurturing a strong and growing industrial base in Dubai and we are right on our target. The launch of our various projects was met with great success and we see demand spurring our growth for the future,” said Al Ansari.
Spread over 560 million square feet, DIC features six industrial clusters for food and beverage, base metal, mineral products, chemicals, transport equipment and parts, and machinery and mechanical equipment. According to its CEO, the city is already a huge success and growing rapidly.
Last year DIC increased its client base to more than 430 industrial investors and managed to lease more than 200 million square feet of land. “We met the increasing demand for industrial land in the emirate by maximising the use of our land and ensuring high levels of efficiency at all times from master planning to actual handover of industrial plots to clients,” said Al Ansari.
While more than 80 per cent of the commercial land in the city has been sold, 15 per cent has been retained for the development of “iconic” projects. DIC only leases out industrial land for 45 years with a potential further extension for another 50 years. The city has launched four office buildings in the past 12 months, as well as 1.5 million square feet of warehouses in addition to the Dubai Industrial Academy (DIA), the first vocational industrial training academy of its kind in the UAE.
Dubai Industrial City “achieved more than Dh1.5bn in commercial plot sales of lands to date for use as schools, shopping centres, hospitals, residential areas, and recreation and entertainment facilities.
“We have so far leased three out of the four buildings we launched in June 2007 and have already started leasing warehouses, as of last month to meet the needs of our clients as well as companies across the UAE. Al Ansari added Transpark, the logistics provider that DIC set up in partnership with Deutsche Post World Net – the parent company of DHL, Danzas and Exel – was managing all logistic services and operations for the warehouses in DIC.
“We have also attracted international clients such as Siemens and DHL, and major brands such as Porsche, Aston Martin, Infinity, Audi, and Volkswagen in our automotive zone,” he said.
Industrial City projects $15bn in investments