DIP grows with 100 new companies in 2016

dubai — Dubai Investments Park (DIP) 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.

An indication to this is the increase in the number of tenants and sub-tenants in DIP, with over 100 new companies either leasing or sub-leasing premises in the 2,300-hectare business park.

Similarly, the total area leased by the existing companies during 2016 has also increased by 33 per cent — from approximately 6.5 million square feet to nine million square feet, particularly in warehouse storage spaces.

The total number of companies within DIP is over 4,600, covering the entire spectrum of industries. 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.

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.

“In the last 17 years, Dubai Investments Park has grown from a unique concept on paper to a successful mixed-use project. 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,” Omar Al Mesmar, General Manager of DIP, said.

— business@khaleejtimes.com