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An additional 650 companies set up operations within Dubai South in 2020

An additional 650 companies set up operations within Dubai South in 2020

An additional floor is being constructed in its Business Park to accommodate the growing number of clients

Dubai South

There were 650 new companies which set up operations within the Business Park of Dubai South in 2020.

These entities leased approximately 945,488 square feet of space within the freezone.

In May last year, to encourage businesses to establish themselves within the freezone, Dubai South reduced licence fee renewals by 20 per cent, while first-year licence fees for new customers in the aviation, logistics and e-commerce sectors and the Business Park were waived altogether.

At the time, it also said that customers operating in the Business Park Free Zone could apply for a lease deferral request of up to six months, which was granted on a case-by-case basis.

As a result of its stimulus package, the Business Park has reportedly been able to retain 90 per cent of companies operating within it, reported the Dubai Media Office.

Read: Dubai South waives first-year licence fees for new customers

“Last year was an unusual year for everyone, and the challenges it brought about affected most industries across the world, especially brick-and-mortar ones. We are pleased to see that the market has started to return to pre-pandemic levels and that our Business Park surpassed our potential clients’ aspirations,” said Khalifa Al Zaffin, executive chairman of Dubai Aviation City Corporation amd Dubai South.

“In an effort to meet growing demand, we are currently developing an additional floor in our Business Centre that will be ready by the end of Q1 2021.”

Business Park clients at Dubai South include IT, insurance, education and, online gaming, among others.

Dubai South was launched as a Government of Dubai project in 2006, representing a 145 square kilometer master-planned city designed to sustain a population of a million inhabitants and create 500,000 jobs.

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