100 new companies shift base to Dubai Investments Park
Date
7/31/2016 1:57:01 AM
(MENAFN- Khaleej Times) Total number of companies within the free zone park hits 4,600
Dubai Investments Park (DIP) on Saturday announced that 100 new companies have either leased or sub-leased premises within the development in the past year.
With the new companies, the total number of companies within the 2,300-hectare development has surged to 4,600. The free zone park also announced that its net profit has registered a combined annual growth rate (CAGR) of 11 per cent in the past 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 an enviable 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 infrastructure projects of the Expo," said Omar Al Mesmar, general manager of DIP.
He added: "The total value of investments made by DIP tenants towards their facilities and factories is approximately Dh50 billion."
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.
Today, DIP is a bustling community, with over 12,000 residential units, 90,000 residents, 20 million square feet of office space, 25 showrooms, six schools, five hotels, besides 20 residential buildings and 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 infrastructure to international standards, which includes 140km of internal road network and well-integrated water and electricity systems, hospitals, educational institutions, hotels, retail outlets, supermarkets and other day to day necessities and recreational options for tenants.
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