FINANCIAL NEWS

Dubai Industrial City inaugurates USD204.21m warehouse facilities

30 Jan 2012

(MENAFN) Dubai Industrial City’s (DI) managing director, Abdulla Belhoul, said that the company launched the second phase of its storage facilities, valued at USD204.21 million, reported Arab News.

Belhoul added that the aim of the warehouse and showroom development was to enhance the growing logistics industry in Dubai and the UAE, adding that the new phase consists of 3.5 million square feet of warehouses and retail showrooms equipped with back storage.

He also said that the new facilities bring the total amount of current storage at the light to medium industrial destination to 10 million square feet, the largest-of-its-kind under one area in the UAE.

It is worth noting that Dubai Industrial City, a member of TECOM Investments, now features a total of 627 eight-meter high warehouses, and 122 retail showrooms with amenities for temperature-controlled and chemical storage, workshops for light industrial activities and machinery operation, in addition to warehouses for general-use.

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