DIP warehousing leases up

Dubai Investments Park is geared to meeting growing demand for various options in warehousing space

01 September 2014

Dubai Investments Park (DIP), wholly-owned by Dubai Investments PJSC, has leased over 950,000 sq ft of warehousing facilities in the first six months of 2014.

This corresponds to a 10.5 per cent increase in warehousing leases, compared to the corresponding period last year. Of these, 60 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 and warehousing.

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.

Warehousing and storage facilities, light and medium industries and related logistics services play a pivotal role in the success of DIP. The park also offers dedicated sections for companies to custom-build warehouses in line with their requirements. Readymade warehouses are also available at attractive rental rates.

Omar Al Mesmar, general manager of DIP, said: “Even as the investor confidence grows across Dubai and UAE amidst the Expo 2020 bid win, we are geared up to continuing 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.”

He added: “The growth in warehouse leases reflect 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.”

All warehouses within DIP allocate a maximum of 10 per cent of the 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 optimises the production to warehouse to retail outlet cycle.

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