Dubai’s Deputy Ruler and Minister of Finance and Industry, Sheikh Hamdan bin Rashid Al-Maktoum will inaugurate the Dubai Investments Park, which is being developed at a total cost of 1.5 billion Emirati dirhams ($408.3 million), on March 29.
The launch follows the completion of the first phase of the region's only privately developed and managed fully integrated investment zone, which offers local and foreign investors a range of benefits, facilities and services.
Work has already commenced on the second phase of the multi-phase project that is being developed by Dubai Investments on 3,200 hectares of land in the heart of Dubai's economic growth corridor on the way to the Jebel Ali Free Zone.
The Park, the only one to be launched by the private sector in the Middle East, is a mixed use industrial, business, residential and recreational development offering 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 long-term lease option of up to 99 years is available for industrial, commercial and residential projects.
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)
© 2003 Mena Report (www.menareport.com)
