Dubai – “ASWAQ”
Dubai Investments Park (DIP) has either leased or subleased its premises to 100 new companies there in the last 12 months, thus making the overall tenancy at the 2,300-hectare warehousing and logistics cluster to 4,600.
Currently, over 95 per cent of DIP’s land has been leased, while 98 per cent of the industrial zone is occupied. Around 59.5 million square feet of space represents ready-made facilities, including warehousing and industrial units. This demonstrates that the commercial leasing activity continues to be in an upbeat mode in Dubai.
DIP’s general manager, Omar Al Mesmar (shown in the picture above) said, “DIP’s proximity to the Expo 2020 site makes it a favoured option for investors and end users, with pent-up demand for logistics, accommodation and ancillary services to cater to the infrastructural projects of the Expo.”
He added, “DIP’s strategic location offers the right mix for companies to set up base and expand their footprint across the entire Middle East. The total value of investments made by DIP tenants towards their facilities and factories is approximately Dh50 billion.”
In addition to warehouses and logistics, the Park also hosts more than 12,000 residential units, 90,000 residents, 20 million square feet of office space and 5 hotels. Eight new hotels and serviced apartments are already in the advanced planning and implementation stages.