DAFZA achieves 62% of annual sales target

Dubai / Emirates Business

The Dubai Airport Freezone Authority (DAFZA) performed exceptionally well in Q1 2017, achieving 62 percent of its total annual sales target. This was accompanied by an increase of 7 per cent in sales revenues over Q1 2016.
The freezone also posted a significant 31 per cent growth in the number of its registered companies, as compared to the same period in 2016, noting a 16 per cent rise in the number of multinational businesses, such as Fujikura, Global Sources, Armasal, Blue Star, Markolin and others.
The positive financial results showed a significant increase in the demand for office space. The growth of leased office space reached 35 per cent with leased light industrial units jumping by 36 per compared to the same period last year. DAFZA’s exceptional performance can also be attributed to its plan to attract more foreign direct investments (FDI’s), which included a promotional plan targeting the world’s leading markets and vital economic sectors currently booming in the MENA region.
During Q1, DAFZA completed a tour including stops in South Korea, India, Germany, and Italy. The tour was successful as DAFZA created new strategic partnerships through meetings with major foreign investors interested in establishing their businesses in the Freezone, to capitalize on the opportunities brought forward by Dubai and the MENA region.
The tour also featured the launch of the ‘Smart Office,’ a product designed specifically for developing markets. It enables multinational companies to explore opportunities for growth and expansion in the region, through flexible solutions offered by DAFZA. The Smart Office has been highly-acclaimed by existing investors, and has already achieved a 21% occupancy rate.
HE Dr Mohammed Al Zarooni, Director General of DAFZA said: “The excellent results from Q1 2017 reflects our positive outlook for 2017. The growth that we are witnessing is attributed to our business model, efficient operational management, flexible yet highly efficient requirements for investments, and global market volatility. Our successful financial results reflect DAFZA’s commitment towards its efficient and value added role in driving the national economy, and we expect this growth to continue as a result of our strong operational and financial performances.”
Al Zarooni continued: “DAFZA’s approach towards empowering
and encouraging Freezone operators to expand their scopes of
work in the MENA region, has contributed towards the development of promising opportunities for new and existing investors, based on the pioneering approach DAFZA has taken with existing operators since its establishment. DAFZA adheres through its integrated team to
the highest standards of efficie-
ncy when doing business in Dubai, to attract a larger number of
international companies and
foreign capital.”