Dubai – Mubasher: Dubai Investments Park (DIP) has attracted 100 new companies in a year, bringing total local and international firms in the complex to 4,600, according to a statement released Saturday.
DIP noted that its net profit has registered a combined annual growth rate (CAGR) of 11% in the past five years.
Construction has also begun on 48 new sites within DIP for new facilities, boosting its reputation as a "manufacturing powerhouse," according to the statement.
Companies leasing or sub-leasing premises at DIP cover a variety of industries including: aluminium, steel manufacturing, chemicals, pharmaceuticals, textiles, plastics, oil and gas, construction, building materials and contracting sectors among others.
The surge in new companies within DIP highlights the development's growing reputation, commented DIP general manager Omar Al Mesmar, describing DIP as "a self-contained city-within-a-city and the most sought-after destination for businesses."
"DIP’s proximity to the Expo 2020 site makes it a favoured option for investors and end-users, with pent-up demand for logistics, accommodation and ancillary services to cater to the infrastructural projects of the Expo,” he added.
