Dubai: The Dubai Airport Freezone Authority (DAFZA) achieved growth in new sales revenues with an increase of 8.3 per cent, which resulted from the rise of 24 per cent in the leased areas compared to the same period last year.
These record results are an extension of the strategic plan set by DAFZA at the beginning of 2021, which aims to target the recovering markets after lifting the restrictions on global trade movement in a post-pandemic environment.
The results show an increase in demand for the logistic units and leasing by more than double when compared to 2020. The figures confirm the excellence of integrated services DAFZA provides to its partners and its strategic location next to Dubai International Airport, enabling reach to local, regional, and international markets.
“DAFZA’s strong performance in the first half of this year confirms its ability to attract and sustain foreign direct investments,” said Sheikh Ahmed bin Saeed Al Maktoum, Chairman of DAFZA.
DAFZA achieved strong results by launching a set of economic incentives and packages to attract new investors. This led to an increase in the number of registered companies by 88.4 per cent compared to the same period in 2020. DAFZA maintained its position as a preferred destination for multinational companies and succeeded under the current circumstances in increasing the number of registrations for those companies by 23.5 per cent. DAFZA alsoe recorded an increase in the number of small and medium companies by 96.4 per cent compared to the same period last year.
Contribution to Dubai’s trade
DAFZA’s total trade reached more than $39 billion in the first quarter of 2021, with an increase of 4.7 per cent compared to the same period in 2020. The free zone also achieved a trade surplus of 2.44 billion dirhams. As a result, DAFZA’s contribution to Dubai’s trade accounted for 11 per cent during the first quarter of 2021, in which it maintained the same level in the first quarter of 2020.
“DAFZA’s achievements during the first six months of this year highlight its relentless pursuit and keenness to provide a single global business model, underlining its leadership as one of the most advanced and developed free zones in the world. The free zone also plays a key role in supporting the direction of the UAE and the emirate of Dubai in economic diversification, as DAFZA supports more than 1,800 companies across more than 20 economic sectors. DAFZA’s flexibility of its business environment and continuous effort to support the operations of companies is delivered through providing various incentives that enable businesses to achieve strategic objectives across different markets,” said Dr. Mohammed Al Zarooni, Director General of DAFZA.
In terms of goods, the group of machinery, television, and electrical equipment and pearls, semi-precious stones, and metals accounted for 94 per cent of DAFZA’s trade. The first group achieved high growth of 32.4 per cent in the first quarter of 2021, where the value of the group’s imports amounted to 14.1 billion dirhams and the importance of exports 15.7 billion dirhams.
China was DAFZA’s biggest trade partner, which accounted for 31 per cent of the free zone’s trade in the first quarter of this year. It witnessed a high growth of 56.4 per cent compared to the same period, and its imports amounted to 64 per cent.