Lootah Real Estate Development Company announced yesterday the launch of a project called Industrialists, which aims to showcase the industrial warehouses in Dubai for industrial companies under tenancy contracts.
The company said in a press statement, on the sidelines of the launch of the new project, «Industrialists» is the first of its kind, which is offered in the local market, and provides an opportunity to own warehouses.
"The project will be implemented in three phases," said Saleh Abdullah Lootah, CEO of the company. "The cost of the first phase is estimated at 300 million dirhams, while the second phase is worth 500 million dirhams. .
He pointed out that this sustainable business model of various companies operating in the industrial sector will help companies convert their operating costs into assets.
He added that «Industrialists», a subsidiary of the company (Lootah), which will manage the project, previously acquired three million square feet, within the Dubai Industrial Park, to establish the new project ».
Lootah pointed out that there are incentives that will benefit the companies that will join the project, including the exemption of customs enjoyed by «industrialists», due to its location in the Dubai Industrial Park, which will reduce costs, in addition to competitive prices provided by the developer, to meet the current trend of In addition to the proximity of the project from major areas in Dubai such as Al Maktoum International Airport, Jebel Ali Port, Expo 2020 Dubai and many major highways, including Sheikh Mohammed Bin Zayed Road, Emirates Road .
He added that the project «Industrialists» supports the strategy of Dubai Industrial 2030, which contributes to an environment conducive to growth in the industrial sector, and provides customers with important resources, to enable them to achieve their short to long-term goals.
Companies incorporated into
Project in the complex
Industrial Dubai benefits
Of customs exemption.