Omar Al Mesmar
DIP posts 10.5pc rise in warehousing leases in H1
Dubai, August 17, 2014
Dubai Investments Park [DIP], the largest self-contained mixed-use in the Middle East, leased over 950,000 sq ft of warehousing facilities in the first six months of 2014, marking a 10.5 per cent increase over the first half of last year.
This corresponds to 10.5 per cent increase in warehousing leases between January and June 2014, compared to the corresponding period last year.
Sixty per cent of new leases include readymade facilities for light and medium industries, while 20 per cent were for logistics services and the rest for general storage &warehousing purposes.
In all, 86 new companies took up warehousing facilities in the first half of 2014, with a significant addition to tenants within the industrial and commercial zones.
Omar Al Mesmar, general manager of DIP, said: “Even as the investor confidence grows across Dubai and UAE amidst Expo 2020 bid win, we are geared up to continue our amazing growth in the leasing of warehouses, industrial logistics, light and medium industries and other commercial facilities. Businesses across the UAE and beyond are looking for world-class facilities at strategic trade points across Dubai, and DIP offers this in unequalled measure.”
“The growth in warehouse leases reflects the burgeoning demand and upbeat business sentiment across the entire spectrum of economy. The economic activity in the past one year has already translated into rising levels of optimism and growth, offsetting the challenges in the real estate sector from the past,” he added.
All warehouses within DIP allocate a maximum of 10 per cent of its built-up area for office space, thereby providing companies with the opportunity to have office and warehousing operations under one roof and efficiently manage their logistics needs. Many companies find this to be a major advantage since it optimizes the production to warehouse to retail outlet cycle.
“DIP is rapidly reaching full occupancy in Phase 8 and we are among the best-equipped mixed-use developments in the region with unmatched infrastructure. Our efforts are focused on consistent enhancement of the facilities in place, and we hope to deliver several many more milestones in the near future,” Al Mesmar said.
The readymade facilities at DIP are offered at competitive prices that are highly preferred by prospective clients. The benefits of quality and ease of access within Dubai and to potential markets in the neighbouring emirates add to the distinct advantage of security in the fully fenced compound. – TradeArabia News Service