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Commercial leasing activity continues to be in an upbeat mode in Dubai, with Dubai Investments Park confirming that 100 new companies have either leased or subleased premises there in the last 12 months. This takes the overall tenant tally at the 2,300-hectare warehousing and logistics cluster to 4,600.
“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. As of now, over 95 per cent of DIP’s land has been leased, while 98 per cent of the industrial zone is occupied. Around 59.5 million square feet of space represents ready-made facilities, including warehousing and industrial units.
“The total value of investments made by DIP tenants towards their facilities and factories is approximately Dh50 billion,” the official added. “DIP’s strategic location offers the right mix for companies to set up base and expand their footprint across the entire Middle East.”
Apart from warehouses and logistics, the Park also hosts 12,000 plus residential units and 90,000 residents. There is also 20 million square feet of office space and five hotels. Eight new hotels and serviced apartments are in the advanced planning and implementation stages.
Source: Staff Report, gulfnews.com