Dubai Investments Park (DIP), the largest integrated commercial, industrial and residential community in the Middle East, has announced that 100 new companies have either leased or sub-leased premises within the development in the last one year.

With the new companies, the total number of companies within the 2,300-hectare development in Dubai, UAE, has surged to 4,600.

DIP also announced that its net profit has registered a combined annual growth rate (CAGR) of 11 per cent in the last five years.

Construction has also commenced on 48 new sites within DIP for new facilities, further building on its reputation as a manufacturing powerhouse.

DIP boasts a portfolio of tenants ranging from medium to light industries in aluminium, steel manufacturing, chemicals, pharmaceuticals, textiles, plastics, oil and gas, construction, building materials and contracting sectors among others.

“The sharp surge in new companies within Dubai Investments Park is a sign of the growing reputation of the development, as it continues to evolve into a self-contained city-within-a-city and the most sought-after destination for businesses. DIP’s proximity to the Expo 2020 site makes it a favoured option for investors and end-users, with pent-up demand for logistics, accommodation and ancillary services to cater to the infrastructural projects of the Expo,” said Omar Al Mesmar, general manager of DIP.

He added: “Over the last 18 years, Dubai Investments Park has attracted a number of companies and big businesses to its industrial zone, and contributed immensely to the country’s Gross Domestic Product (GDP). The total value of investments made by DIP tenants towards their facilities and factories is approximately Dh50 billion. DIP’s world-class logistics, strategic location, state-of-the-art facilities and business-friendly environment offers the right mix for companies to set up base and expand their footprint across the entire Middle East.”

Over 95 per cent of DIP land is leased and 98 per cent of its industrial zone is occupied. DIP offers a wide array of warehousing, storage and commercial facilities for large, medium and small-sized enterprises; as also dedicated plots where companies can custom-build warehouses. Approximately 59.5 million sq ft of space within DIP is readymade facilities, including warehousing and industrial units.

Born out of a pioneering vision by Dubai Investments, DIP is today a booming community, accentuated by over 12,000 residential units, 90,000 residents, 20 million sq ft of office space, 25 showrooms, six schools, five hotels, besides 20 residential buildings and a large of staff accommodation. Eight new hotels and serviced apartments are currently in advanced planning and implementation stages.

Over the years, DIP has spent over Dh4 billion in enhancing and improving the infrastructure to international standards, which includes 140 km of internal road network and well-integrated water and electricity systems, the best of hospitals, educational institutions, hotels, retail outlets, supermarkets and other day to day necessities and recreational options for its tenants. - TradeArabia News Service