Dubai Investments Park (DIP), the largest integrated commercial, industrial and residential community in the Middle East and a wholly-owned subsidiary of Dubai Investments, attracted more than 100 new companies in 2016.

The new companies either leased or sub-leased premises in the 2,300-hectare business park, which is fast emerging as the preferred destination for businesses and residents alike, in view of its proximity to Dubai World Central, Dubai South and the Expo 2020 site, said a statement.

The total area leased by the existing companies during 2016 has also increased by 33 per cent – from approximately 6.5 million sq ft to 9 million sq ft, particularly in warehouse storage spaces.

The total number of companies within DIP is over 4,600, covering the entire spectrum of industries – from medium to light industrial units in aluminium, steel manufacturing, chemicals, pharmaceuticals, textiles, plastics, oil and gas, construction, building materials and contracting sectors.

During the year, DIP also witnessed a surge in subleasing of labour and accommodation rooms from 16,000 to 21,000 rooms. The increased capacity will help accommodate 84,000 labourers compared to 68,000 labourers earlier, the statement said.

Reflecting its surging demand, DIP has also announced the opening of a new 114-room 4-star Fortune Park boutique hotel to cater to the business and leisure travellers. The new hotel is part of the plans to open eight new hotels and serviced apartments in the next three to four years in DIP.

To be built by individual investors, the hotels and apartments will be of various star categories, the statement said.

The new hotels will perfectly complement the growth of DIP as a city-within-a-city. It will also provide a major boost to the hospitality sector as Dubai expects to attract as many as 25 million visitors during Expo 2020, including 17.5 million overseas tourists. The emirate will require an additional 45,000 hotel rooms to match the rising demand by 2020 and an investment of nearly $7.1 billion is expected in hotel projects.

Omar Al Mesmar, general manager of DIP, said: “In the last 17 years, Dubai Investments Park has grown from a unique concept on paper to a successful mixed-use project. DIP is the torchbearer in the development of business parks in the entire region, creating world-class facilities and attracting industries from across the globe over the years, which goes in line with the Dubai Industrial Strategy. DIP’s proximity to Expo 2020 site and Dubai South makes it the preferred destination for both investors and end-users. This is also leading to increasing demand for projects to develop hotels, serviced apartments within DIP.”

He added: “The total value of investments made by DIP tenants towards their facilities and factories over the years 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 local, regional and international companies.”

The growth of DIP comes amidst increased accessibility to and out of the business park, with the opening of the new Al Houdh Interchange, built by Dubai Roads & Transport Authority at a cost of Dh228 million. With the new interchange, DIP enjoys easy access from Sheikh Mohammed Bin Zayed Road (north as well as south), as also from Jebel Ali port thus ensuring hassle-free movement in and out of the park.

Plans are also afoot to open the new British Columbia Canadian School (BCCS) within DIP by September 2017. The new school, the sixth within DIP, is being constructed at a total investment of AED 88 million, on a 25,000 square metre plot in DIP. The school will offer K-12 Kindergarten, primary and secondary programs, over 60 classrooms and accommodate 1,500 students.

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 square feet of office space, 25 showrooms, six schools, six hotels, besides 20 residential buildings and a large of staff accommodation. 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 are readymade facilities, which includes warehousing and industrial units. – TradeArabia News Service