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Fri 12 Aug 2016 09:57 AM

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Dubai Investments Park sees 100 new firms in past year

Total number of companies within the 2,300-hectare development has surged to 4,600

Dubai Investments Park sees 100 new firms in past year

Dubai Investments Park (DIP), the largest integrated commercial, industrial and residential community in the Middle East, has 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, a statement said.

It added that DIP also announced that its net profit has registered a combined annual growth rate [CAGR] of 11 percent in the last five years.

Construction has also commenced on 48 new sites within DIP for new facilities, further building on its reputation as a manufacturing powerhouse.

Omar Al Mesmar, general manager of DIP, said: "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."

He added that the total value of investments made by DIP tenants towards their facilities and factories is approximately AED50 billion.

DIP also features 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 a large of staff accommodation.

Eight new hotels and serviced apartments are currently in advanced planning and implementation stages.

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