Tuesday, July 11, 2017

Dubai sees growth in demand for industrial spaces

The economic diversification model adopted by Dubai has significantly contributed to accelerating trade activities and driving demand over industrial spaces in the emirate, according to the latest Industrial Market Bulletin from Cluttons, a global real estate services company, said a report.

The bulletin attributed the momentum to the positive activities performed by a number of technology firms, reported state news agency Wam.

The real estate consultancy's bi-annual real estate outlook report for the 2017 summer highlighted a new wave of demand by technology companies during the first six months of the year, including 'Noon.com' which is set to open a modern warehouse sprawling over 195,000 sq m in Dubai South, while 'Amazon.com' is weighing up options for establishing on-demand-designed warehouses after its purchase of 'Souk.com'.

The report highlighted in this regard the plans declared by Siemens to establish a global centre for logistics and distributions in the venue of Expo 2020 Dubai, a move which reflects the growing strategic geographical importance continually gained by the city with global distribution and logistics players.

Faisal Durrani, Head of Research at Cluttons, said that Dubai is forging ahead with its aggressive development plans, paving the way for the birth of new companies and for the expansion of other leading companies working in the local market.

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