Ruler of Dubai inaugurates Phase 1 of Dubai Investments Park
Deputy Ruler of Dubai and UAE Minister of Finance and Industry Sheikh Hamdan Bin Rashid Al-Maktoum has inaugurated Phase 1 of the Dubai Investments Park, the region's only fully integrated investment zone that is being developed and managed entirely by the private sector.
Dubai Investments Park, which covers an area of 3,200 hectares, is strategically located in Dubai's economic growth corridor, offering local and foreign investors a range of benefits, facilities and services. The Park is a mixed use industrial, business, residential and recreational development offering investors pre-serviced sites, infrastructure for manufacturing, housing, academic, research, distribution and logistics purposes.
A long-term lease option of up to 99 years is available for industrial, commercial and residential projects. A total of 871,411 square meters of land has been leased in Phase 1 for residential projects including a Green Community which is being created by property developers, Property Investments. This residential community will have more than 700 single-family homes, townhouses and apartments supported by modern shopping malls, health clubs, kindergartens, medical and dental clinics, recreational facilities, restaurants and cafes.
The Park is being developed, managed and operated by Dubai Investments Park Development Company (DIPDC), a wholly owned subsidiary of Dubai Investments, a joint public stock company with a subscribed capital base of $350 million. — (menareport.com)
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