Dubai: Dubai Airport Freezone Authority (DAFZA) reported trade amounting to Dh87.4 billion in the first 9 months of 2020.
The fee zone’s sales revenue increase by 7.62 per cent while the number of registered companies increased by 64..11 per cent in the same period.
“The results achieved by DAFZA and its business community during 2020, the investors’ confidence and other various indicators give a positive outlook on the short and long term for economic recovery in the country,” said Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Airport Freezone Authority.
The group of electronics, electrical & ICT accounted for the largest number of the total number of companies registered in DAFZA. This sector was the main contributor to DAFZA’s trade during the first nine months of the year, with a rate of 75.8 per cent for exports and re-exports and a rate of 74.1 per cent for imports.
As for the nationality of companies, the Middle Eastern companies accounted for the largest percentage of the total number of companies in DAFZA by 54 per cent, followed by European companies by 21.5 per cent, and Asian companies by 15 per cent..
China ranked first in terms of major trading partners during the first nine months of the year with a 25 per cent and a value of Dh22 billion. Iraq came second with 10 per cent with an estimated value of Dh9 billion followed by India with 8 per cent and a value of Dh7 billion
“In 2021, DAFZA is committed to the government directions aimed at easing the challenges of the pandemic on the economic sectors and supporting companies towards economic recovery. That will be achieved with the return of economic activities and the opening of more global markets,” said Dr. Mohammed Al Zarooni, Director General of DAFZA.
In light of the increasing demand and the acceleration of foreign companies to establish their businesses in DAFZA, the free zone witnessed an increase in the office-leased areas by 39.4 per cent. As part of its efforts to meet this demand by companies for new lease areas, DAFZA completed the construction of the "9W" building with a total built up area of 64,285 square meters within its strategic location near the Dubai International Airport runway. This project provided a new leasable area of 23,510 square meters, 29 per cent of which are leased of which 60 per cent was leased to multinational companies.