DAFZA reports increase in revenue by 8%

DAFZA reports increase in revenue by 8%
Published: 28 August 2018 - 11:11 a.m.

Dubai Airport Freezone Authority (DAFZA) has announced that revenue grew by 8% during the first six months of 2018 compared to the year-earlier period.

The free zone said the H1 results included a 10% increase in licensing revenues and a 31% increase in revenues from government services.

DAFZA said the positive figures were delivered as a result of its strategic plan set in early 2017, which comes in line with the ambitious objectives of the Dubai Plan 2021.

The success witnessed by DAFZA came with a steady increase in the leasable area reaching 43% compared to 2017, with a 63% growth in warehouses and 29% increase in office space.

DAFZA Industrial Park, the first expansion project outside DAFZA’s boundaries located in Al Qusais Industrial Area, witnessed an occupancy rate of 82 percent during the first half of this year, a statement said.

It added that DAFZA achieved 15% growth in the number of registered companies over the same period in 2017 including a 5% in the number of multinational companies and a 17% rise in the number of registered SMEs.

DAFZA recently announced a 65 percent reduction in business start-up fees, in line with Dubai's efforts to become an ideal destination for investment and prosperity and to consolidate the stability of free zone companies’ operations in order to sustain investments and support their growth.

Sheikh Ahmed bin Saeed Al Maktoum, chairman of the Dubai Airport Freezone Authority, said: “DAFZA’s remarkable performance results for 2018 H1 showcase the expected success of the plans developed by DAFZA to promote sustainable economic development in the emirate.

"It is also the result of the initiatives and investment incentives launched by the Government of Dubai which has been guided by the wise leadership in order to attract foreign direct investment from international companies.”

Source: Arabian Business

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