DIP grows with 280 new sub-tenants in first 4 months of 2017

Dubai Investments Park (DIP), an integrated commercial, industrial and residential community in the Middle East and a wholly-owned subsidiary of Dubai Investments PJSC, has announced that 280 new sub-tenants have leased premises within DIP between January and April. This, the company said, reinforces its reputation as the preferred and most sought-after business destination in the region.
The new leases during the period under review included 219 warehouses, 38 offices and 23 commercial units, bringing the total number of operational companies within DIP to over 4,880 — covering a wide range of industries, from medium to light industrial units in aluminum, steel, chemicals, pharmaceuticals, textiles, plastics, oil and gas, construction, building materials and contracting sectors.
The leases included new and old tenants, who expanded their warehousing spaces within DIP. These included Transguard Group LLC, Azadea Group, ETA Melco Elevators Co. LLC, Hilti Emirates and Chef Middle East, among others. Over 95 percent of DIP land is leased and 98 percent of its industrial zone is occupied.
Omar Al-Mesmar, general manager of DIP, said: “The spurt in the number of sub-tenants in the January-April 2017 period is a very encouraging sign for DIP’s growth plans. Over the last 19 years, DIP has played a pivotal role in attracting companies and industries from across the region and the globe. DIP’s proximity to Expo 2020 site and Dubai South also makes it the preferred destination for both investors and end-users.”
Al-Mesmar added: “DIP has consistently developed its road network, with increased accessibility to and from the park with the new Al-Houdh Interchange, besides upgrading its infrastructure, services and facilities and coupled with this, the proposed Dubai Metro Route 2020 line passes through DIP, all of which continue to attract new tenants into the development.”
DIP is today a booming community, accentuated by over 12,000 residential units, 90,000 residents, 20 million square feet of office space, 18 showrooms, six schools, five operational hotels, besides 20 residential buildings and a large staff accommodation.
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.

Source: Arab News