Dubai Investments Park attracts 236 tenants and 306 developments
Dubai Investments Park (DIP), a major industrial, business, residential and recreational development in Dubai, which is a wholly-owned subsidiary of Dubai Investments, has attracted 236 tenants and 306 developments, which include tenants and subsidiary companies. This was announced recently at a networking function hosted in DIP honoring the tenants of the facility.
“The growth and transformation of Dubai Investments Park is a matter of great pride for all of us. It is an example of how sheer tenacity and hard work can achieve results. Today, it is a sought-after industrial, commercial and residential development, which is growing in popularity and scope. In just eight years, DIP has become a success story, involving a total investment of over AED 5 billion and we are on track to boost the investment to AED 10 billion by the end of 2010.” stated Khalid Bin Kalban, Managing Director and Chief Executive Officer, Dubai Investments.
“Dubai Investments Park was set up in real quick time and more phases are under development at the Park. The presence of a number of leading local and multinational companies at DIP has prompted us to expand our existing facilities. The total number of tenants and projects at Dubai Investments Park has risen to 306 with the launch of the Phase 4. The type of industries in DIP includes cosmetics & perfumes, food, light engineering, logistics & distribution, paper products and plastics,” added Bin Kalban.
Apart from creating the infrastructure for industrial growth, the Park is paying great attention to community amenities. DIP has signed leases with six international schools, some of which are set to commence their academic year by the end of summer.
Construction of 13 mixed development buildings, like warehouse, manufacturing facilities, offices and labor accommodation, were completed in the first quarter of 2005 in Dubai Investments Park. In addition, nearly 158 buildings are currently under construction at the Park.
Companies like ARENCO, Al Serkal Bridgestone, Cosmoplast, Bodycote, Emirates Macaroni, Dragoni, MEGA Carpets, Kuwait Agriculture, Express Priniting and Pal Zileri are among the new tenants working out of Dubai Investments Park.
“We are delighted to see Dubai Investments Park turning into a prestigious address and a preferred location for commercial and industrial projects. Further, the area around the Park is set for major transformation, with the announcements of plans for the new Jebel Ali Airport and The Dubai Waterfront,” concluded Bin Kalban.
The Park’s tenants include industrialists and entrepreneurs representing a broad scope of economic activity - pharmaceuticals, property development, metal treatment and insulation materials, water purification, boiling and distribution, heavy duty steel fabrication, cold storage, building systems, distribution of TV satellite equipment and the manufacture of cast steel valves for oil, gas and water industries and plastic pipes and accessories.
DIP is being developed in five phases with each phase designed to accommodate specific projects and industries. The Park is managed and operated by Dubai Investments Park Development Company LLC (DIPDC).
© 2005 Mena Report (www.menareport.com)
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