DIP work reaches milestone
01 April 2012
DUBAI Investments Park (DIP), the largest integrated business and residential community in the Middle East, and wholly owned by Dubai Investments, said the construction of the first stage on Phase Eight of the facility has been completed.
Work on Phase Eight started in August 2010 at a total cost of Dh150 million ($40 million). When completed, this component of DIP is anticipated to emerge as a hub for logistics services and light industries. It will house 16 buildings with 10 warehouse units of 780 sq m each. DIP has already entered into leasing agreements with tenants for several of these units.
The second stage of Phase Eight, expected to be completed in July 2013, will add a further 1.4 million sq ft to the existing light industrial zone. When complete, Phase Eight – the final zone in the masterplan for DIP – will host its dedicated electricity and water network, a sewage system and district cooling facilities involving a total built-up area of 2.8 million sq ft.
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