Dubai: Dubai Airport Freezone ( DAFZA) has reported a growth rate of 82 per cent in the sales revenues for the first half of 2012, with 90 per cent increase in the rental of warehouse space, compared to the same period in 2011.
The results show that during the first half of the current year there was an increase of eight per cent in requests for additional space requests, compared to same period in 2011. These requests were mostly made from European companies operating in the Freezone.
These encouraging results come amidst growing concerns over the Euro crisis faced in Eurozone states. This highlights Dubai’s ability to provide ongoing investment opportunities to all foreign investors and the Freezone’s role in providing high quality facilities to support and drive its tenants’ businesses forward in the region.
Dubai Airport Freezone saw some 105 new companies opening offices in the first six months of 2012, which boosts the Freezone’s contribution to the emirate’s GDP of more than 2.27 per cent.
Significant focus
Also during the first six months, European and American companies topped the list of new tenants at 37 per cent of the total; followed closely by Middle Eastern and Indian businesses, and then Asian countries. The American and European markets have been of significant focus for the Freezone over the past two years, and European companies now represent the biggest number of investors in DAFZA.
DAFZA’s Director General, Dr Mohammad Al Zarouni, said that these results show the excellent progress being made in DAFZA’s objective to attract and support foreign companies within the Freezone. He said, “The Freezone’s strategic location, next door to Dubai International Airport, has given it unique strength and made it a favourite place for foreign companies. The availability of many facilities, hassle-free procedures and investment opportunities has secured its place as a significant contributor to the country’s growth,” he explained.
“We have worked hard to continuously develop the investment climate by training our workforce to best serve clients and satisfy investors” he added. “After a successful 15 years, DAFZA has become one of the most experienced authorities in attracting foreign capital. It contributed to six per cent of Dubai’s export, around Dh52 billion.”
Further growth
The Freezone expects to have even further growth in 2012; Dr Zarouni said that the future is full of aspirations and positive expectations, with plans to implement a number expansion and improvement plans to be rolled out. These include increasing the rental spaces for offices, adding new services and facilities for clients, such as a business centre, restaurants and a health club.
European and American companies represent 41 per cent of DAFZA tenants, with 650 companies followed by Gulf companies at 29 per cent or 464 companies. Asian companies represent 16 per cent, and Middle Eastern companies at six per cent.