Friday, July 20, 2007

Dubai Industrial City takes initiative to introduce lease regulations to realty agents


Dubai Industrial City (DI), also a Tatweer member, has organized a meeting with more than hundred real estate agents operating in the emirate as participants, with an intention to introduce the agents to the land lease regulations of the city and to introduce them to the new property developments that are taking shape in the major industrial destination.

The DI's CEO, Rashed Al Ansari, informed the agents that the developments of the city has picked up pace over the past six months, and more than ninety five percent of the industrial land has been leased out to over four hundred investors. He re-iterated that the DI was formed with an intention of establishing an industrial base in Dubai, and the city is more than willing to extend its full support to serious investors. Al Ansari explained that the industrial land, however, could not be sub-leased to third parties and the investors would risk their land in case they fail to abide by the project plans approved by DI previously.

Pointing out the fact that DI has completed the construction of four office buildings which has the capacity to accommodate the investor needs, and the needs of companies operating in Dubai and Abu Dhabi, he added that this meeting was an important step to help real estate agents understand the objectives behind the development of the city in a better manner.

Dubai Industrial City is a dedicated industrial destination with six industrial clusters. In other words, DI is a one stop-shop destination for warehousing, logistics, labour cities, and entertainment, industrial and residential zones. The free zone offers tenants a critical competitive edge in logistics, human resources and business operations.

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