Dubai Investments Park’s sub-leases reach 5mn-sqft milestone in 2018

Dubai / WAM

Dubai Investments Park (DIP), the wholly owned subsidiary of Dubai Investments, announced that total built-up warehouse, office and commercial unit space sub-leased at Dubai Investments Park, passed the 5 million sqft mark in 2018.
Among the tenants are Kingspan Insulation, the sustainable building solutions provider behind major Middle East projects, including the Louvre Abu Dhabi, Atlantis The Palm and the King Abdulaziz Centre for World Culture in Saudi Arabia, invested in a 538,000 sqft plot opposite their current operations in DIP 2 in 2018, to create a larger manufacturing facility to serve the Middle East construction market. Their current facility measures over 86,000 sqft and offers a 75 million sqft production capacity for manufacturing insulation board.
Regarding increased number of leases, Omar Al Mesmar, General Manager of DIP, said, “Over the past 19 years, DIP has played a pivotal role in attracting companies and industries from across region and globe, helping Dubai become the preferred destination for both investors and end-users. The volume of leases in 2018 was highly encouraging and evidence of DIP’s consolidated growth plans.”
Clima Uno, the air conditioning firm, now operates from a purpose-built facility which spans over 100,000 sqft and manufactures air handling units, fan coil units, energy recovery ventilators and ecology units of European grade for local and regional HVAC contractors.