Dubai Investments Park leases 950,000 sq. ft. of warehousing facilities in first half of 2014
Dubai Investments Park [DIP], the largest integrated commercial, industrial & residential community in the Middle East and wholly-owned by Dubai Investments PJSC, has leased over 950,000 square feet of warehousing facilities in the first six months of 2014.
This corresponds to 10.5% increase in warehousing leases between January and June 2014, compared to the corresponding period last year. Of these, 60% of new leases include readymade facilities for light and medium industries, while 20% were for logistics services and the rest for general storage & warehousing purposes.
In all, 86 new companies took up warehousing facilities in the first half of 2014, with a significant addition to tenants within the industrial and commercial zones.
Warehousing and storage facilities, light & medium industries and related logistics services play a pivotal role in the success of DIP. The park also offers dedicated sections for companies to custom-build warehouses in line with their requirements. Readymade warehouses are also available at attractive rental rates.
Mr. Omar Al Mesmar, General Manager of DIP, said: “Even as the investor confidence grows across Dubai and UAE amidst Expo 2020 bid win, we are geared up to continue our amazing growth in the leasing of warehouses, industrial logistics, light & medium industries and other commercial facilities. Businesses across the UAE and beyond are looking for world-class facilities at strategic trade points across Dubai, and DIP offers this in unequalled measure.”
He added: “The growth in warehouse leases reflect the burgeoning demand and upbeat business sentiment across the entire spectrum of economy. The economic activity in the past one year has already translated into rising levels of optimism and growth, offsetting the challenges in the real estate sector from the past.”
All warehouses within DIP allocate a maximum of 10% of its built-up area for office space, thereby providing companies with the opportunity to have office and warehousing operations under one roof and efficiently manage their logistics needs. Many companies find this to be a major advantage since it optimizes the production to warehouse to retail outlet cycle.
Mr. Al Mesmar further said: “DIP is rapidly reaching full occupancy in Phase 8 and we are among the best-equipped mixed-use developments in the region with unmatched infrastructure. Our efforts are focused on consistent enhancement of the facilities in place, and we hope to deliver several many more milestones in the near future.”
The readymade facilities at DIP are offered at competitive prices that are highly preferred by prospective clients. The additional benefits of quality and ease of access within Dubai and to potential markets in the neighbouring emirates and the wider region make DIP an ideal investment destination.
A distinct advantage is the high level of security that is being provided to the warehouses in DIP with the compound being fully fenced. DIP is one of the largest business and residential communities in the Middle East. Strategically located within minutes from the Jebel Ali Port and Dubai World Central as well as Al Maktoum International Airport, DIP is a self-contained city offering state-of-the-art facilities and world-class infrastructure.