Thursday 24 September 2020

Dubai Investments Park's 97pc units leased out

DUBAI, February 11, 2020

Dubai Investments Park (DIP), a wholly-owned unit of Dubai Investments, said more than 97 per cent of the total leasable land area of 17 million sq m within the unique integrated commercial, industrial and residential community in the Middle East region has been leased out.

DIP pointed out that the master-planned complex, designed and developed to provide immaculate facilities, setting new standards in the region, has attracted investments worth over Dh42 billion ($11.4 billion) within two decades, thus signifying the emergence of DIP as a successful business model, facilitating a conducive environment.

Considered one of the largest integrated developments in the Middle East, DIP has confirmed a sustained and progressive growth in the investment portfolio.

Today it is a booming community, with over 12,000 residential units, more than 160,000 residents, six schools, five operational hotels as well as serviced apartments, a hospital and four clinics, 313 staff accommodation buildings, 20 million sq. ft of office space, more than 4,200 tenants, 645 warehouse factories and industrial facilities, 25 office buildings, and 18 showrooms, said the statement.

In line with reiterating the development’s robust brand equity and integrating the uniqueness through enhanced value creation aligned to futuristic vision, DIP has unveiled a new logo and will continue to remain as a hot spot for investors with its ideal location and proximity to key business destinations, it added.

On its solid performance, general manager Omar Al Mesmar said Dubai Investments Park has witnessed qualitative growth in investments over the last 20 years.

"The growing investment figures testify the trust among the investors and reiterate DIP’s commitment towards reinforcing positive perceptions of the development’s competitiveness. Today, as one of the top investment locations in the UAE and the larger Arab region, DIP is continually enhancing infrastructure, services and regulations and increasing ease of doing business, headed in the right direction and reaping fantastic results," he added.

Over the last few years, DIP has witnessed a sharp increase in its sub-leasing, thus reflecting the surging optimism in the regional business environment, coupled with the growing reputation of DIP as the preferred business destination.

DIP has consistently developed its road network and upgraded its infrastructure and facilities, which continues to attract new tenants and the proximity to the Expo 2020 site has added to the strategic advantage of the development.

It has constantly imitated efforts towards the enhancement of various infrastructure facilities and has invested in excess of Dh1.5 billion only towards development of infrastructure, it added.-TradeArabia News Service


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