Dubai Investments has said that 100 new companies have either leased units or sublet space at Dubai Investments Park [DIP] last year, bringing the total number of firms on the 2,300-hectare development to 4,600.
Construction has also started on 48 new sites to build new facilities, mainly from manufacturing companies.
Omar Al Mesmar, the general manager of DIP, said that its proximity to the Expo 2020 site made the park “a favoured option for investors and end users, with pent-up demand for logistics, accommodation and ancillary services”.
“Over the last 18 years, DIP has attracted a number of companies and big businesses to its industrial zone, and contributed immensely to the country’s GDP,” he said. “The total value of investments made by DIP tenants towards their facilities and factories is approximately Dh50 billion.”
More than 95 per cent of the land at DIP is leased to tenants and 98 per cent of its industrial zone is occupied. Tenants are generally involved in light-to-medium industries such as aluminium, steel manufacturing, oil and gas, construction, building materials, chemicals and pharmaceuticals, among others.
Wider facilities at the park include 12,000 homes, 20 million square feet of office space, six schools and five hotels. Eight new hotels are also being built.
A study published earlier this month by Cluttons argued that demand in Dubai’s industrial market has already begun moving southwards across the city towards Dubai South and Al Maktoum International Airport, which is the neighbouring district to DIP that also contains the Expo 2020 site.
Despite this, rents for prime industrial property remained flat in Dubai South (at Dh60 per sq ft) over the past 12 months and have declined by 6 per cent (to Dh47 per sq ft) in DIP. Rents for secondary industrial units have dropped by about 5 per cent in both communities.
Faisal Durrani, the head of research at Cluttons, said: “Our research shows that although prices across the leasing and sales markets have softened over the first two quarters of this year, the volume of transactions has been maintained.”
mfahy@thenational.ae
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COMPANY PROFILE
Company name: Klipit
Started: 2022
Founders: Venkat Reddy, Mohammed Al Bulooki, Bilal Merchant, Asif Ahmed, Ovais Merchant
Based: Dubai, UAE
Industry: Digital receipts, finance, blockchain
Funding: $4 million
Investors: Privately/self-funded
Veil (Object Lessons)
Rafia Zakaria
Bloomsbury Academic
A QUIET PLACE
Starring: Lupita Nyong'o, Joseph Quinn, Djimon Hounsou
Director: Michael Sarnoski
Rating: 4/5
Saturday's results
Brighton 1-1 Leicester City
Everton 1-0 Cardiff City
Manchester United 0-0 Crystal Palace
Watford 0-3 Liverpool
West Ham United 0-4 Manchester City
Alita: Battle Angel
Director: Robert Rodriguez
Stars: Rosa Salazar, Christoph Waltz, Keean Johnson
Four stars
Four-day collections of TOH
Day Indian Rs (Dh)
Thursday 500.75 million (25.23m)
Friday 280.25m (14.12m)
Saturday 220.75m (11.21m)
Sunday 170.25m (8.58m)
Total 1.19bn (59.15m)
(Figures in millions, approximate)
MATCH INFO
Syria v Australia
2018 World Cup qualifying: Asia fourth round play-off first leg
Venue: Hang Jebat Stadium (Malacca, Malayisa)
Kick-off: Thursday, 4.30pm (UAE)
Watch: beIN Sports HD
* Second leg in Australia scheduled for October 10
England ODI squad
Eoin Morgan (captain), Moeen Ali, Jonny Bairstow, Jake Ball, Sam Billings, Jos Buttler, Tom Curran, Alex Hales, Liam Plunkett, Adil Rashid, Joe Root, Jason Roy, Ben Stokes, David Willey, Chris Woakes, Mark Wood.
Dengue fever symptoms
- High fever
- Intense pain behind your eyes
- Severe headache
- Muscle and joint pains
- Nausea
- Vomiting
- Swollen glands
- Rash
If symptoms occur, they usually last for two-seven days
SPEC SHEET: NOTHING PHONE (2)
Display: 6.7” LPTO Amoled, 2412 x 1080, 394ppi, HDR10+, Corning Gorilla Glass
Processor: Qualcomm Snapdragon 8+ Gen 2, octa-core; Adreno 730 GPU
Memory: 8/12GB
Capacity: 128/256/512GB
Platform: Android 13, Nothing OS 2
Main camera: Dual 50MP wide, f/1.9 + 50MP ultrawide, f/2.2; OIS, auto-focus
Main camera video: 4K @ 30/60fps, 1080p @ 30/60fps; live HDR, OIS
Front camera: 32MP wide, f/2.5, HDR
Front camera video: Full-HD @ 30fps
Battery: 4700mAh; full charge in 55m w/ 45w charger; Qi wireless, dual charging
Connectivity: Wi-Fi, Bluetooth 5.3, NFC (Google Pay)
Biometrics: Fingerprint, face unlock
I/O: USB-C
Durability: IP54, limited protection
Cards: Dual-nano SIM
Colours: Dark grey, white
In the box: Nothing Phone (2), USB-C-to-USB-C cable
Price (UAE): Dh2,499 (12GB/256GB) / Dh2,799 (12GB/512GB)
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Confirmed bouts (more to be added)
Cory Sandhagen v Umar Nurmagomedov
Nick Diaz v Vicente Luque
Michael Chiesa v Tony Ferguson
Deiveson Figueiredo v Marlon Vera
Mackenzie Dern v Loopy Godinez
Tickets for the August 3 Fight Night, held in partnership with the Department of Culture and Tourism Abu Dhabi, went on sale earlier this month, through www.etihadarena.ae and www.ticketmaster.ae.
EXPATS
Director: Lulu Wang
Stars: Nicole Kidman, Sarayu Blue, Ji-young Yoo, Brian Tee, Jack Huston
Rating: 4/5
Three ways to limit your social media use
Clinical psychologist, Dr Saliha Afridi at The Lighthouse Arabia suggests three easy things you can do every day to cut back on the time you spend online.
1. Put the social media app in a folder on the second or third screen of your phone so it has to remain a conscious decision to open, rather than something your fingers gravitate towards without consideration.
2. Schedule a time to use social media instead of consistently throughout the day. I recommend setting aside certain times of the day or week when you upload pictures or share information.
3. Take a mental snapshot rather than a photo on your phone. Instead of sharing it with your social world, try to absorb the moment, connect with your feeling, experience the moment with all five of your senses. You will have a memory of that moment more vividly and for far longer than if you take a picture of it.
Top 10 most competitive economies
1. Singapore
2. Switzerland
3. Denmark
4. Ireland
5. Hong Kong
6. Sweden
7. UAE
8. Taiwan
9. Netherlands
10. Norway