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Mon 18 Aug 2014 11:49 AM

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Dubai Investments Park leases nearly 1m sqft in first 6mths

Figure is 10.5 % increase in warehousing leases compared to last year

Dubai Investments Park leases nearly 1m sqft in first 6mths
Dubai Investments Park

Dubai Investments Park [DIP] has leased over 950,000 square feet of warehousing facilities in the first six months of 2014.

This represents a 10.5 percent increase in warehousing leases between January and June 2014, compared to the same period last year.

Of these, 60 percent of new leases include readymade facilities for light and medium industries, while 20 percent were for logistics services and the rest for general storage and 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.

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 and 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 percent 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.

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.

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