Dubai Investments Park sees surge in tenants in early 2017

Dubai Investments subsidiary says 280 new sub-tenants have leased premises in the first four months
By Staff writer
Sun 25 Jun 2017 02:55 PM

Dubai Investments Park (DIP) has announced that 280 new sub-tenants have leased premises in the first four months of 2017.

The new leases during the period under review included 219 warehouses, 38 offices and 23 commercial units, bringing the total number of operational companies within DIP to more than 4,880, a statement said.

The wholly-owned subsidiary of Dubai Investments said the leases included new and old tenants, who expanded their warehousing spaces within DIP.

These included Transguard Group, Azadea Group, ETA Melco Elevators Co, Hilti Emirates, and Chef Middle East.

Over 95 percent of DIP land is leased and 98 percent of its industrial zone is occupied, the statement said, adding that the surge in tenants reflects the growing status of DIP.

Omar Al Mesmar, general manager of DIP, said: “The spurt in the number of sub-tenants in the January-April 2017 period is a very encouraging sign for DIP’s growth plans. DIP’s proximity to Expo 2020 site and Dubai South also makes it the preferred destination for both investors and end-users.”

DIP includes over 12,000 residential units, 90,000 residents, 20 million square feet of office space, 18 showrooms, six schools, five operational hotels, besides 20 residential buildings and a large of staff accommodation.

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Last Updated: Tue 04 Jul 2017 02:33 PM GST

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