Grand Stores to set up operations in Dubai Investments Park
Grand Stores, a leading retail distributor in the UAE, has entered into an agreement with Dubai Investments Park (DIP), a wholly owned subsidiary of Dubai Investments, to set up a warehouse and an office at the Park, over a total land area of 400,000 square feet. DIP is a mixed-use industrial, business, residential and recreational development in Dubai, spread over a 3,200-hectare site.
Jamal Awad, Deputy Managing Director, Grand Stores, said, "DIP is one of the most significant projects coming up in New Dubai. The fact that the Park is situated close to the Jebel Ali port and the upcoming Jebel Ali airport makes it the ideal venue for us to base our new facility in, as it allows us to speedily receive goods from the port."
"More importantly, the strategic location of the Park ensures easy access to Abu Dhabi, Dubai and other emirates, facilitating prompt distribution of our products throughout the UAE," Jamal said.
Established in 1981, Grand Stores has grown into the premier wholesale and retail trader in the UAE, with the head office in Dubai and branch office in Abu Dhabi. Grand Stores holds distribution rights for an array of world-class brands in diverse sectors, including photography, perfumes and cosmetics, linen, luggage, gifts and watches, and dinnerware.
"The state-of-the-art infrastructure facilities and the various incentives offered are fast turning DIP into the most preferred regional investment destination," said Khalid bin Kalban, Managing Director and Chief Executive Officer, Dubai Investments. "We are pleased to welcome Grand Stores to the growing list of high-profile companies which have decided to set up operations in DIP."
"DIP is committed to provide the most enabling environment for companies to establish their business here, and help turn the Park into a world-class business zone," bin Kalban added.
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.
Dubai Investments Park (DIP) is a major industrial, business, residential and recreational development that is developed and managed by Dubai Investments Park Development Company LLC (DIPDC). DIPDC is a wholly owned subsidiary of Dubai Investments (DI), a joint public stock holding company with a subscribed capital base of US$ 350 million.
The Park, the only one 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. A major attraction for investors is the long-term leases, renewable up to 99 years that are available for industrial, commercial and residential projects. DIP offers 100 per cent repatriation of capital and profits, with no currency restrictions and freedom from foreign exchange controls and trade barriers.
Dubai Investments Park has tenants from diverse industrial sectors like 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.