Dubai: The Dubai Multi Commodities Centre Authority announced that it registered 1,270 new member companies in the first six months of 2013. A record-breaking 260 companies joined DMCC’s Free Zone in April alone, bringing the total number of companies operating at DMCC to more than 6,890, a 30 per cent increase compared to the same period in 2012.
DMCC’s Free Zone, the fastest growing and soon to be the largest in the UAE, is firmly set to meet its commitment made in early 2011 to be home to more than 7,200 companies by the end of 2013.
In just 11 years, DMCC’s members and thriving trading community has contributed between $9-12 billion (Dh33-44 billion) towards Dubai’s GDP and continues to demonstrate its strength with major organisations joining the Free Zone in H1 2013 such as General Mills, United Arab Bank, Medcare Hospital and the Moscow University for Industry and Finance, Landmark International Hotels and Noor Islamic Bank.
This continued growth, the increased demand for commercial space combined with DMCC’s significant GDP contribution, are some of many reasons why its executive chairman, Ahmad Bin Sulayem, recently announced that DMCC is to build the world’s tallest commercial tower as part of its expansion plans of a 107,000 square metre business park. Currently in the concept design phase, the DMCC business park and world’s tallest commercial tower will offer premium commercial and retail space for lease and sale, to accommodate demand from large corporations and multi-nationals.
Bin Sulayem said: “The first six months of 2013 further demonstrate DMCC’s strength and commitment to establishing Dubai as the global hub for commodities trade and enterprise. With an average of 200 new companies joining DMCC every single month, 95 per cent of which are new to Dubai, DMCC will be largest Free Zone in the UAE before the year end. Our new expansion plans, including the DMCC business park and the world’s tallest commercial tower, are the next natural steps to ensure we continue to welcome companies to the free zone as demand grows — particularly from large regional corporations and multi-nationals — as we remain focused on making a material contribution to Dubai’s economy.”
In the first half of the year, trade volumes of rough diamonds increased by 10 per cent to 66 million carats, and the value increased by five per cent to $6.2bn compared to the same period last year. A total of 32.4 million carats were imported in the first half of the year at a value of $2.5bn, a nine per cent and seven per cent increase over the same period in 2012. In addition, total exports in carats grew by 12 per cent to 34 million carats and by three per cent to $3.7 billion, compared to the same period in 2012.
