Fifth phase of Dubai Investments Park launched
Dubai Investments Park Development Company (DIPDC), a subsidiary of Dubai Investments PJSC has announced a comprehensive development plan for the phase 5 of the Dubai Investments Park project. The fifth phase will be divided into five sub areas covering a total area of 3.7 million square meters, and will accommodate light industries, hi tech industries and employee accommodation. Dubai Investments Park has so far invested over AED 120 million on this phase. The entire project is scheduled for completion by February 2006.
“The launch of the fifth phase of Dubai Investments Park comes at a time when the business sector in Dubai is growing at a rapid pace, with industries looking to majorly expand their operations in the region,” said Khalid Bin Kalban, CEO & Managing Director of Dubai Investments PJSC. “The fifth phase will cater to the growing demand from various industries for facilities with high quality infrastructure and support services. Companies operating from Dubai Investments Park will also have several strategic advantages, such as the favourable geographic location and the proximity to the sea and air ports.”
“Light industries comprise a big segment of Dubai Investments Park as it is spread over an area of 2.9 million square kilometers. This is 9.4 per cent of the total area of the Park,” added Bin Kalban.
The Light Industry is divided into two categories - L1 and L2. L1 is for heavy industries, while L2 is for light industries. Light industries include companies that manufacture light processing goods such as perfumes, plastics, soaps, furniture, marble and packaging material. These industries are environment friendly as they are low on waste and pollution, with minimum emission levels.
Dubai Investments Park provides general assistance to its tenants by helping them choose the suitable location for their facility and grouping companies doing similar business, so that they benefit from each other’s operations.
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. Construction of 13 mixed development buildings, like warehouse, manufacturing facilities, offices and staff/ employee accommodation, were completed in the first quarter of 2005 in Dubai Investments Park.
“Dubai Investments Park offers investors a central location to launch projects in various industrial sectors. The fifth phase marks the completion of the first part of the Park, which is today a major business hub, attracting investments from leading regional and international investors. The continuous expansion and development activities taking place at Dubai Investment Park will support the booming industrial sector of Dubai and further boost the emirate’s economic growth,” concluded Khalid Kalban.
DIP, the only business zone to be launched by the private sector in the Middle East, offers investors pre-serviced sites, world-class infrastructure, state-of-the-art facilities and quality services for manufacturing, housing, academic, research, distribution and logistics purposes.
- Over 80 per cent of fifth phase of Dubai Investments Park already leased out
- Seventy percent of land leased in Phase 2 of Dubai Investments Park
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