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DIP completes first stage of $41m phase-8 work.

Construction of the first stage at the $41m (Dhs150m) phase-8 of Dubai Investments Park (DIP) has been completed, according to Dubai Investments PJSC.

Work on phase-8 of the largest integrated business and residential community in the Middle East commenced in August 2010 at a total cost of $41m. Contractor Fujairah National Construction is also handling the MEP.

This component of DIP is meant to be a hub for logistics services and light industries. It will house 16 buildings with 10 warehouse units of 780m 2 each.

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DIP has already entered into leasing agreements with tenants for several of the units.

Omar Al Mesmar, general manager, Dubai Investments Park, said: "The conclusion of the first stage of phase-8 is a significant step forward for Dubai Investments Park. Phase-8 is the final zone in the master plan for DIP and focuses on logistics services, a sector that has witnessed unprecedented growth over the last decade. Additionally, it will also feature light industries.

"Tenants from sectors spanning the manufacturing, processing, assembly and distribution value chain have registered their interest in this aspect of the park. These include companies that manufacture light processing goods such as perfumes, plastics, soaps, furniture, marble and packaging material. We are confident that with the support of our business partners we will successfully achieve our vision of growing this phase as a destination for logistics services and light industries."

The second stage of phase-8, expected to be completed in July 2013, will add a further 130,000m 2 to the existing light industrial zone. When complete, phase-8 will host its dedicated electricity and water network, a sewage system and district cooling facilities on a total built-up area of 260,000m 2 .

As of January 2012, the park hosts 1,060 tenants and 1,469 sub-tenants on a total leased area of 1,700 hectares. Located within minutes from the Jebel Ali International Airport, DIP is a self-contained city.

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Publication:Construction Week
Date:Mar 7, 2012
Words:336
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