THE final phase of Dubai Investments Park (DIP), a 2,400-hectare mixed-use development in Dubai, has been launched at a cost of Dh300 million ($81.74 million). Phase Eight will cover 500,000 sq m and will be a hub for logistics services.

According to DIP general manager Omar Al Mesmar, mobilisation and earthworks have been completed, and the developer is awaiting the building permit before commencing construction work on the phase. The project is scheduled for completion in 2012.

DIP, a wholly-owned subsidiary of Dubai Investments, has so far attracted Dh65 billion ($17.71 billion) from 2,185 tenants and investors based at the Park, while it has invested around Dh2 billion ($544.67 million) on infrastructure facilities.
Some of these facilities include 104 km of roads, six substations – of which two have been developed by DIP – 95 km of water supply network, fibre optics, wastewater collection network, and a wastewater treatment recycling facility with a capacity to treat 22,000 cu m a day. DIP is working towards increasing this capacity to 40,000 cu m a day and further to 70,000 cu m a day in the future.

The latest phase is expected to attract 200 tenants and total investments of around Dh75 million to Dh85 million ($20.4 million to $23.2 million).
“The launch of the final phase is a significant achievement for DIP, especially considering that almost all the infrastructure is already in place. It also signifies the steady growth of DIP over the years and reinforces our position as one of the fastest growing investment destinations and among the best-equipped mixed-use developments in the region,” says Al Mesmar.
“Phase Eight will be a significant addition to the investment landscape of Dubai, especially since this phase focuses on logistics services, a sector that has witnessed unprecedented growth in the last decade,” he adds.
Since its inception in 1997, DIP has achieved many milestones. 1998 saw the completion of its masterplan and the commencement of infrastructure development on Phase One. In 1999, DIP signed the first lease agreement. The construction of Phase One was completed in 2000 and this phase was entirely leased out in 2002. Phase Two was inaugurated in 2003. A year later DIP witnessed the launch and completion of infrastructure development of various phases.
“We witnessed overwhelming demand between 2002 and 2009, prompting us not only to speed up infrastructure development, but also revise our masterplan,” says Al Mesmar, adding that more than 95 per cent of the 445,000-sq-m Phase Seven has been completed and leased out.

The Park offers an extensive range of facilities including schools, showrooms, hotels, offices, mosques, warehouses, factories, industrial facilities and staff residential accommodation.
With three specially-developed industrial, commercial and residential zones, DIP offers investors the right environment for success, while providing the workforce with a wholesome living and families with a comfortable community lifestyle.
Recipient of the biennial Middle East Special Economic Zones of the Future 2006/07 Award in the Best General/Industrial Special Economic Zone category, DIP’s proximity to the upcoming Al Maktoum International Airport and Jebel Ali Port is a major strategic advantage to tenants, he points out.
The residential zone at the Park has attracted investments worth over Dh21 billion ($5.72 billion). DIP will house seven major developments comprising 19,392 residential units, including villas, as well as studio, one, two and three-bedroom apartments.

Two projects – Ewan Residences and Green Community – catering to 11,000 residents, have been completed. The other five projects – Crown City, Dubai Lagoon, Dunes Village, Palisades and Ritaj – that are currently under way will cater to more than 87,000 residents.
The residential zone has also attracted four schools and is generating interest from other educational institutions.
With an investment of over Dh1 billion (272. 5 million) in hospitality projects, DIP will address the increasing demand for quality hotel facilities. Two out of the seven hotels planned (offering 1,500 rooms) are already operational.

Commercial zone
DIP has leased more than 8 million sq ft of office development plots in the commercial zone worth Dh1.5 billion ($408.72 million). The office zone will be a low-rise, boutique-style and landscaped development.
Also part of the commercial zone is a showroom zone being developed at a cost of Dh2 billion ($544.92 million) and covering an area of more than 3 million sq ft. It will be leased to vendors of automobiles, furniture, home appliances, professional and commercial equipment, industrial equipment and supplies and other commodities.

Industrial zone
One of the main objectives of the Park is to support the manufacturing sector in the region and provide a base for industrial development. DIP has already leased out 17 million sq ft and has attracted tenants from varied industrial sectors such as pharmaceuticals, metal, insulation, water purification, steel fabrication, plastics, pipes, furniture, food and beverages, to name a few.

DIP current land-use masterplan: