The first phase of Dubai Investments Park (DIP)’s 300 million Emirati dirham ($81.67 million) Light Industrial Units (LIU) project is scheduled to be ready for lease by August 2003. Rental fees at the integrated complex, on a 99-year lease basis, stand at Dh22 per square foot.
Total built up area of the LIU project will reach 2.1 million square feet, near Jebel Ali Free Zone and Port. The project’s first phase consists of 128 pre-built and purpose-built units, while its second phase will comprise of 150 units and is set for completion by March 2004.
Dubai Investments Park (DIP) is a modern, environmentally friendly, mixed-use industrial, business, residential and recreational development located in Dubai, United Arab Emirates (UAE). Prioritizing high-tech and clean, light, industries, DIP is a private development project undertaken by Dubai Investments. To be completed over a period of 15 years, total investments in the complex are expected to reach Dh1.5 billion.
DIP is developed, managed, and operated by the Dubai Investments Park Development Company LLC (DIPDC), a wholly owned subsidiary of Dubai Investments, a joint public stock holding company with a subscribed capital base of $350 million. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
