Dubai's DIP attracts $11.4bn in investments within 20 years
DIP has more than 12,000 residential units, 160,000 residents, six schools, five operational hotels, and 1.86km2 of office space
Dubai Investments Park (DIP) has unveiled that its masterplanned complex has attracted investments of more than $11.4bn (AED42bn) over two decades.
Considered one among the largest integrated developments in the Middle East, the company has confirmed progressive growth in its investment portfolio, with 97% of the total leasable land area of 17km2 leased out till date.
DIP has more than 12,000 residential units; more than 160,000 residents; six schools; five operational hotels as well as serviced apartments; a hospital and four clinics; as well as 313 staff accommodation buildings; 1.86km2 of office space; 645 warehouse factories and industrial facilities; 25 office buildings; and 18 showrooms.
DIP has also unveiled a new logo and aims to remain a hotspot for investors due to its location and proximity to key business destinations, according to state-run Dubai Media Office.
Commenting on the milestone achievements, DIP general manager, Omar Al Mesmar, said: “DIP has witnessed qualitative growth in investments over the last 20 years. The growing investment figures testify the trust among the investors and reiterate DIP’s commitment towards reinforcing positive perceptions of the development’s competitiveness.”
In addition, an amount of approximately $34m (AED125m) has been allocated towards improvement of public facilities, pedestrian track maintenance, and upgradation of existing infrastructure, as well as air conditioned bus shelters over the next year.