Dubai: DIP grows with 100 new companies in 2016
The total number of companies within DIP is now over 4,600, covering medium to light industrial units
Dubai Investments Park (DIP) has gained 100 new companies either leasing or sub-leasing across the 2,300-hectare business park, according to its performance report for 2016.
The total area leased by the existing companies increased by 33%, from approximately 6.5 million square feet to 9 million square feet, particularly in warehouse storage space, according to WAM.
The total number of companies within DIP is now over 4,600, covering medium to light industrial units in aluminium, steel manufacturing, chemicals, pharmaceuticals, textiles, plastics, oil and gas, construction, building materials and contracting sectors.
Omar Al Mesmar, General Manager of DIP, said, "In the last 17 years, Dubai Investments Park has grown from a unique concept on paper to a successful mixed-use project.
“DIP is the torchbearer in the development of business parks in the entire region, creating world-class facilities and attracting industries from across the globe over the years, which goes in line with the Dubai Industrial Strategy.
The business park also witnessed a surge in subleasing of labour and accommodation rooms in 2016, from 16,000 to 21,000 rooms. The increased capacity will help accommodate 84,000 labourers compared to 68,000 labourers earlier.
"The total value of investments made by DIP tenants towards their facilities and factories over the years is approximately AED50 billion," he added.
DIP is also increasing its hospitality offering with plans to build eight new hotels and serviced apartments in the next three to four years.
The park also aims to build more educational facilities which includes the opening of the new British Columbia Canadian School, BCCS in September 2017.