Investors and tenants of industrial and office property have chosen one of the largest Dubai free economic zones Dubai Investments Park (DIP) as their favorite destination. In the first five months of the year 436 new companies received registration there, bringing the total number of companies registered within zone to 4500.
During this period, new companies rented warehouses, distribution centers and offices in the area occupying 5.38 hectares, while the total DIP area is 2300 hectares.
Among the new sub-tenants, who appeared in the zone during the first six months of 2015, there are many well-known companies like Splash Gulf, Majan Food Industries, Galaxy Metal Industries, Four Zone Décor, Royal Cosmetics and 4 Corner General Trading. Due to the large number of new tenants renting property there, commercial property sector in Dubai Investments Park increased by 20% compared to the previous year.
"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.
Today, 12,000 residential units are already built in the area of Dubai Investments Park, being a home to 90,000 inhabitants, 20 million square feet of office space was handed over, 25 showrooms, six schools and three hotels are already operating, and in the next few years it is planned to build eight more hotels and of hotel apartments.