(MENAFN - Khaleej Times) The sharp surge comes amidst heightened demand and business optimism following dubais successful bid to host expo 2020.
dubai investments park (dip) – the largest integrated commercial industrial and residential community in the middle east has announced that the number of transactions for transfer and sub-leasing within the development have surged by over 50 per cent in the first three months of 2014.
the 2.8 million square feet dip phase 8 constructed across two stages is expected to be a hub for logistics services. — supplied photo
in march 2014 the number of transactions was 367 – including 352 sub-leasing and 15 transfers; february recorded 376 comprising 363 sub-leasing and 13 transfer transactions; in january there were 260 transactions which included 251 sub-leasing and nine transfers; while in december 2013 alone there were a total of 400-plus transactions consisting of 381 sub-leasing and 19 transfers.
the sharp surge comes amidst heightened demand and business optimism following dubai’s successful bid to host expo 2020. dip is reaping the benefits of its world-class infrastructure and proximity to the proposed expo 2020 site with the number of transactions registering phenomenal increase in the last three to four months. the total number of transactions in the january-november 2013 period was around 2900 with a value in excess of dh800 million. during the january-march 2014 period the total number of transactions was 1003 with a value in excess of dh280 million. omar al mesmar dip general manager said: “the positive impact of the expo 2020 is already visible and we are confident that we will be able to accelerate our growth in the coming months and years. our proximity to the expo 2020 site is a major advantage for prospective investors and the increased demand for our properties is testimony to this.”
the winning bid for expo 2020 is set to lead to a large number of infrastructural projects in and around the proposed site which is in close vicinity to dip. once complete the 2.8 million square feet dip phase 8 constructed across two stages is expected to be a hub for logistics services as a significant portion of land has been allocated for this sector. keeping in line with the growing demand from companies across industry verticals dip has been strategically expanding its extensive range of facilities which includes schools showrooms hotels offices mosques warehouses factories industrial facilities residential and staff accommodation.