DIP completes construction of 1st stage at phase-8

Dubai Investments Park (DIP), the largest integrated business and residential community in the Middle East, on Tuesday announced that construction of the first stage at phase-8 of the park has been completed.

Work on phase-8 commenced in August 2010 at a total cost of Dhs150 million. When completed, this component of DIP is anticipated to emerge as a hub for logistics services and light industries. It will house 16 buildings with 10 warehouse units of 780 square meters each. DIP has already entered into leasing agreements with tenants for several of the units.

DIP is wholly owned by Dubai Investments.

Omar Al Mesmar, General Manager, Dubai Investments Park, said: "The conclusion of the first stage of phase-8 is a significant step forward for Dubai Investments Park. Phase-8 is the final zone in the master plan for DIP and focuses on logistics services, a sector that has witnessed unprecedented growth over the last decade. Additionally, it will also feature light industries.

"Tenants from sectors spanning the manufacturing, processing, assembly and distribution value chain have registered their interest in this aspect of the park. These include companies that manufacture light processing goods such as perfumes, plastics, soaps, furniture, marble and packaging material. We are confident that with the support of our business partners we will successfully achieve our vision of growing this phase as a destination for logistics services and light industries."

The second stage of phase-8, expected to be completed in July 2013, will add a further 1.4 million sq. feet to the existing light industrial zone. When complete, phase-8 will host its dedicated electricity and water network, a sewage system and district cooling facilities on a total built-up area of 2.8 million square feet.

Dubai Investments Park is one of the largest business and residential communities in the Middle East. As of January 2012, the park hosts 1,060 tenants and 1,469 sub-tenants on a total leased area of 1,700 hectares. Strategically located within minutes from the Jebel Ali International Airport, DIP is a self-contained city offering state-of-the-art facilities and world-class infrastructure.

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