Dubai Investments records 36% rise in DIP sub-leasing contracts

DUBAI / WAM

Dubai Investments has announced a 36 percent increase in sub-leasing contracts in
its wholly-owned subsidiary Dubai Investments Park (DIP) in the first nine months of 2017 compared to last year.
“Out of these, nearly 68 percent contracts pertained to existing subtenants, reflecting DIP’s growing demand as a premier business destination in the region. The new subtenants during the period under review amounted to 26 percent; of which 46 percent were in warehousing activity, 35 percent in staff accommodation activity, 14 percent in offices activity, and 5 percent in commercial activity. Some of the new subtenants included Spectrum Automotive Services, Multi-Level Technology, Cheese Land, among
others,” the company said.
Omar Al Mesmar, General Manager of DIP, said, “The sharp increase in DIP sub-leasing in the first nine months of 2017 period reflects the surging optimism in the regional business environment, coupled with the growing reputation of DIP as the preferred business destination. There has been a strong demand for warehouses in DIP, as a result of its proximity to the Expo 2020 site and Dubai South.
DIP has consistently developed its road network, upgraded its infrastructure and facilities, which continues to attract new tenants.”