DAFZA sees 82 per cent increase in H1 2012

Dubai Airport Freezone Authority (DAFZA) has reported an impressive 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. As well as the increase in new tenants, 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, when compared to same period in 2011. These requests were mostly made from European companies operating in the Freezone. These encouraging results come amidst ascending concerns over the Euro crisis still being 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. 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 Mohammed Al Zarooni, 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 favorite 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.” “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 Dhs52 billion.” Dr Zarooni explained that the Freezone companies, currently standing at more than 1,600 from around the world, cover with a diverse spectrum of industries that meet the needs of the Middle Eastern and African market. From gulftoday