Seventy percent of land leased in Phase 2 of Dubai Investments Park

The Park, which was formally inaugurated in March by His Highness, Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai and UAE Minister of Finance and Industry, has proven its capability to lure local, regional and foreign entrepreneurs through a number of unique benefits, facilities and services. His Highness, Sheikh Hamdan laid the foundation stone for Phase 2 on the same day he inaugurated Phase 1 of the project.

Addressing a press conference in Dubai on June 22, Mr. Khalid bin Kalban, Chief Executive of Dubai Investments PJSC and Managing Director of the Park, said: "The response from investors in such a short time has exceeded our expectations, and proves that the Park is the perfect hub for industrialists and entrepreneurs. In addition to the excellent facilities and services that are being offered, the strategic location of the Park, so close to the Jebel Ali Port, and with the potential to reach a market of over 1.5 billion consumers in the region, is another key attraction for both local and international investors."

He added: "The fact that in less than three months we have made tremendous progress in Phase 2 has encouraged us to draw up plans to launch Phase 3 by the beginning of next year. The commencement of operations by so many entrepreneurs from across the world is also a huge vote of confidence in the investment policies of the Park, and further enhances Dubai's position as an international investment centre for trade, technology and tourism".

Phase 2 of the Park development is being undertaken at an estimated cost of Dhs. 45 million, and is spread over an area of 20 million sq ft. Phase 1 of the Park, which accounts for 12 percent of the total area of the project, was completed at a cost of Dhs. 120 million . Phase 3 will focus on development of land for industrial projects while Phase 4 will be largely for commercial and residential projects.

Mr. Kalban said that major business establishments have launched manufacturing units in the second phase of the project including property developers, Zedklym, who are developing a Light Industrial Complex consisting of 16 blocks of 128 units for warehousing and light manufacturing facilities.

Other companies include Al Hassani Group, which operates 14 companies in a diversified range of activities, from tea to children's food products, marble production and construction, Seven Seas, leaders in sea freight services and information technology, Abdullah Al Moosa Group of Companies, who are involved in multiple industries including manufacturing and distribution of furniture, and Emicool.

Also in Phase 2 are leading business houses from other GCC countries including Saudi Arabia's Al Aujan, producer of fruit juices like Rani, Vimto and Hani, and Mohammed Al Othman Company, producer of the popular range of Nada juices.

The Park, the only one to be launched by the private sector in the Middle East, is a mixed use industrial, business, residential and recreational development offering investors pre-serviced sites, world-class infrastructure, state-of-the-art facilities and quality services for manufacturing, housing, academic, research, distribution and logistics purposes. A long-term lease option of up to 99 years that is available for industrial, commercial and residential projects, is another major attraction for investors.

Mr. Kalban said that the Park offered services that were not available in other industrial or investment zones including a wastewater treatment and re-cycling facility. The re-cycled wastewater is used for agricultural and industrial projects.

The Park's tenants include industrialists and entrepreneurs representing a broad scope of economic activity - pharmaceuticals, property development, metal treatment and insulation materials, water purification, boiling and distribution, heavy duty steel fabrication, cold storage, building systems, distribution of TV satellite equipment and the manufacture of cast steel valves for oil, gas and water industries and plastic pipes and accessories.

Mr. Kalban said that the process of further enhancing the greenery at Dubai Investments Park was continuing on a daily basis, as part of an extensive landscaping progamme aimed at creating the ideal living and working environment for tenants and employees. The community and environmentally friendly focus of the entire development is highlighted by the fact that investment in industrial activity that could pollute the area is banned.

Leading property developers, Property Investments who are developing the Park's Green Community, a major residential area, will begin leasing its luxury single-family homes, townhouses and apartments this year. The Green Community development will also feature modern shopping malls, a 150-room hotel, health clubs, kindergartens, medical and dental clinics, recreational facilities, restaurants and cafes. Meanwhile, Lootah Real Estate Development, another major developer of residential projects at the Park, has launched the Evans Residential Compound that will include 950 residential apartments.

Mr. Kalban said: "Dubai Investments Park will continue to offer investors the best incentives, high quality facilities and services, and focus on building more world-class infrastructure that will tremendously benefit our valued tenants. We have also supported the welfare of the workforce by constructing staff accommodation units. By the middle of next year, 70 well-equipped studio apartments will be built for labourers in addition to the 149 air-conditioned rooms used by them at present.

"As the only fully integrated investment park we offer various community services including educational and recreational facilities for families, on-site 24-hour security, medical services and postal services. We will be constructing a mosque, and also plan to open higher education institutions, a shopping mall, entertainment centres and sports centres".

The Park is being developed, managed and operated by Dubai Investments Park Development Company LLC (DIPDC), a wholly owned subsidiary of Dubai Investments, a joint public stock company with a subscribed capital base of US $ 350 million.