Dubai Industrial Park and Lootah sign MoU
Dubai Industrial Park has signed an agreement with Lootah Real Estate Development to establish a state-of-the-art pre-built industrial manufacturing development.
The partnership includes a 49-year lease of land spanning 1 million square feet.
The first phase of the project uncludes multi-purpose built-up industrial units ranging from 20,000 to 60,000 square ft.
Once completed, the project will span a total area of 3 million square feet.
Abdulla Belhoul, Chief Commercial Officer of Tecom Group, said: "The ongoing efforts of our diverse business communities aim to achieve the wise UAE leadership’s vision and directives to position the country among the most competitive economies in the world.”
Saud Abu Al-Shawareb, the Managing Director of Dubai Industrial Park, said: "We welcome our new business partner Senaeyat to Dubai Industrial Park as a key value addition to our growing industrial hub.
“We look forward to a long successful partnership that will see us achieve mutual milestones and contribute to the realization of the Dubai Industrial Strategy 2030."
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