The Dubai Investment Park, part of the government-owned Dubai Investments company, has struck a deal with a German real estate broker to establish an European Business Centre in the DIP, a move which is expected to enhance investment links between Dubai and Europe in the coming years.
DIP's agreement with Kleindienst & Partner, a Dubai-based German real estate broker, will lead to investment of AED150 million (US$550 million), and create more than 1,500 jobs in the park by helping companies from Europe and the Middle East set up there.
When EBC opens in November 2007, the company's commercial premises will accommodate turn-key offices in flexible sizes, as well as in-house retail facilities, meeting and conference rooms, logistical facilities, basement parking, and 'green building' amenities.
“We are very pleased with the diversity and calibre of companies that are basing their businesses in DIP, which indicates that our high-quality support services, infrastructure and facilities are appealing to the diverse requirements of our tenants. We are confident that EBC will fortify trade and business links between European and Middle Eastern companies, and become a starting base for many of Dubai’s headlining companies in the near future,” commented Omar Al Mesmar, General Manager, Dubai Investments Park.
The DIP is 3,200 hectares in size, and is located approximately nine kilometres inland from the Arabian Gulf. The park is being developed in five phases, with each phase designed to accommodate specific projects or industries. To date, the park has attracted 950 tenants and AED21 billion in investment. Some AED30 billion is expected to be invested this year alone.
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