Dubai Investments Park final phase to be ready by Q1 2014

January 28, 2014 - 2:00:09 pm

DUBAI: Dubai Investments Park (DIP), a wholly-owned subsidiary of Dubai Investments PJSC, Tuesday announced that Phase 8, the final phase of the 2,400 hectare mixed-use development, will be fully completed by the end of the first quarter of 2014.

On completion, the 430,000 square-meter Phase 8, being constructed at a cost of AED 325 million in two stages, is expected to be a hub for logistics services as a significant portion of land has been allocated for this sector, WAM news agency said today.

Phase 8 entails construction of a total of approximately 375 warehouses and light industrial units.

It will have well-planned road network, electricity and water network, sewerage system and irrigation and district cooling facilities on a total built-up area of 2.4 million square feet.

The first stage, which was completed in mid-2012 has been fully leased and is approximately 80 percent occupied. (QNA)