Over 80 per cent of fifth phase of Dubai Investments Park already leased out
Dubai Investments Park Development Company (DIPDC), a subsidiary of Dubai Investments PJSC has announced that over 80 per cent of the recently launched phase 5 of the Dubai Investments Park project has already been leased out and 75 per cent of the grading work in phase 5 has been completed.
The major expansion activities at Dubai Investments Park have attracted several new tenants to the Park, taking the total tally to 385 tenants, with phase 5 accounting for 130 tenants. The construction of the fifth phase began on September 19th, 2005 and it is tentatively scheduled for completion by April 2006.
The fifth phase is divided into five sub areas covering a total leased area of 3.7 million square meters, and accommodates light industries, hi tech industries, hotels and employee accommodation. Over AED 120 million has so far been invested on this phase.
“We are pleased with the progress of phase 5, as all the construction activities in this phase is going as per schedule. The fact that most of the fifth phase has already been leased out, is a reflection of the competitive edge that Dubai Investments Park offers its tenants,” said Omar Sultan Al Mesmar, Chief Operating Officer, Dubai Investments Park.
“The rapid pace of growth that Dubai is witnessing currently requires the availability of specialised industrial parks with high quality infrastructure facilities to cater to a variety of industrial sectors. Moreover, apart from creating the infrastructure for industrial growth, the Park is paying great attention to community amenities as well,” added Al Mesmar.
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.
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.
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