Space in each outlet is 5,800 square feet, and if the applicant desires, he can take up to a block which will have a combined space of 40,000 square feet. .
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Investments in individual outlets start at Dh650,000. .
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The calling of applications will be closed in a fortnight, according to a top official with Texmas, the Dubai-based industry grouping of textile merchants. .
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“As of now, we have received over 30 applications, and it should not be long before we close the allocations. We have seen interest from both existing members of Texmas and more recent entrants to the membership,” said Ashok Sawlani, vice-chairman. .
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“There was a two-year waiting period before the Dubai Textile City project commenced operations with the start of construction. There were many applicants during this period and the only way there could be a fair allotment process was to do it through lots. .
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“In the second phase, we do not see the need for that — it will be a straightforward “first come, first served” policy and the applicants will get to choose the locations.”.
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With project costs estimated at Dh220 million, Dubai Textile City is a venture between Texmas and Dubai Ports, Customs and Free Zone Corp. .
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Land for the facility — all six million square feet in Al Aweer — was provided by the Free Zone Corp. The financing is being met by the textile merchants who have booked space in the complex. .
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Meanwhile, Sawlani confirmed that Texmas will approach the authorities for additional land if the need arises at the end of the second stage of expansion. .
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“As of now, the two phases will cover the entire area that has been marked for us. .
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“If we see more demand coming in, we will approach the authorities concerned for additional area.” .
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The project is scheduled to be completed in the second half of next year.
Date:4/29/2004
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