Phase 8 of Dubai Investment Park nears completion
Dubai Investments PJSC says final phase will be completed this quarter
The eighth and final phase of the Dubai Investments Park (DIP) will be fully completed by the end of the first quarter of 2014, it has been announced.
Dubai Investments PJSC said that, once complete, the 430,000m2 phase 8, which is being constructed at a cost of $88.5m (AED325m) across two stages, will become a hub for logistics services, with a significant portion of land allocated for this sector.
Phase 8 entails construction of approximately 375 warehouses and light industrial units.
The first stage of Phase 8, which was completed in mid-2012, has been fully leased and is approximately 80% occupied.
Omar Al Mesmar, DIP GM, said: “We are nearing the completion of the final phase of the DIP development, which is a significant milestone for us.
“The steady growth of DIP over the years reinforces our identity as one of the fastest growing investment destinations and is among the best-equipped mixed-use developments in the region with unmatched infrastructure.”
Phase 8 will include a road network, electricity and water network, sewerage system and irrigation and district cooling facilities on a total built-up area of 2.4mn ft2.