Dubai : Dubai Investments Park (DIP), a wholly owned subsidiary of Dubai Investments PJSC, yesterday unveiled Phase 8 of the 2,400 hectare development.
The final phase of the project, a 500,000 square metre area, is being constructed at a cost of Dh300 million.
"The launch of the final phase is a significant achievement for DIP, especially considering that almost all the infrastructure is already in place.
"It also signifies the steady growth of DIP over the years and reinforces our position as one of the fastest growing investment destinations and among the best-equipped mixed use developments in the region," said Omar Al Mesmar, general manager of Dubai Investments Park.
Over the years, DIP has invested Dh2 billion in infrastructure facilities within the park, while the total investments by the 1,135 tenants and 1,050 subtenants in DIP has crossed Dh65 billion.
‘Significant addition'
"Phase 8 will be a significant addition to the investment landscape of Dubai, especially since this phase focuses on logistics services, a sector that has witnessed unprecedented growth in the last decade," added Al Mesmar.
DIP has also revealed that 95 per cent of the 445,000 square metre Phase 7 has been completed and has already been fully leased.
Keeping in line with the growing demand from companies, Dubai Investments Park has been strategically expanding its extensive range of facilities to include schools, showrooms, hotels, offices, mosques, warehouses, factories, industrial facilities and residential staff accommodation.
