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Tue 4 Aug 2015 02:34 PM

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Dubai's DIP attracts 436 new firms in first 5 months of 2015

Dubai Investments Park sees new warehouses, distribution centres, office spaces and light industrial units leased this year

Dubai's DIP attracts 436 new firms in first 5 months of 2015

Dubai Investments Park (DIP) has attracted 436 new companies in the first five months of 2015, taking the total number of companies within the 2,300-hectare development to nearly 4,500.

During the period, the new companies leased warehouses, distribution centres, office spaces and light industrial units across a total area of 580,000 square feet.

The sub-tenants include well-known brands such as Splash Gulf, Majan Food Industries, Galaxy Metal Industries, Four Zone Décor, Royal Cosmetics and 4 Corner General Trading, according to a statement.

This marked a 20 percent increase in commercial space allotments in the period compared to the last year at DIP, which is wholly-owned by Dubai Investments.

"DIP is fast reinforcing its identity as the preferred business destination and its proximity to the Expo 2020 site makes it a favoured option for investors and end-users. The massive growth in number of DIP sub-tenants this year is a sign of the growing reputation of DIP," said Omar Al Mesmar, general manager of DIP.

DIP today boasts over 12,000 residential units, 90,000 residents, 20 million square feet of office space, 25 showrooms, six schools, three hotels, while eight new hotels and serviced apartments are planned to be built in the next few years.

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