Dubai Investments Park's final phase will be completed in Q1, 2014

Dubai: Dubai Investments Park [DIP], a wholly-owned subsidiary of Dubai Investments PJSC, yesterday 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. Once completed, the 430,000 square-meter Phase 8, being constructed at a cost of Dh 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. Phase 8 entails construction of a total of approximately 375 warehouses and light industrial units. The first stage, which was completed in mid-2012, has been fully leased and is approximately 80 percent occupied. Phase 8 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. Over the years, DIP has invested in excess of Dh 3.5 billion on infrastructure facilities within the Park, and today accommodates over 3,450 tenants and sub-tenants representing a wide array of industrial, distribution, logistics entities and residential units. - Emirates News Agency, WAM