Dubai Airport Freezone Sees Revenues Rise 26%

Dubai Airport Freezone (DAFZA) reported 26 per cent year-on-year revenue growth last year and volumes rose 73 per cent to Dhs69 billion.

International firms registered in the freezone collectively grew the value of their exported and imported goods to Dhs164 billion, up Dhs69 billion.

The growth was fuelled by a 37 per cent increase in construction and engineering companies, itself a reflection of the boom in Middle Eastern construction projects. Jewellery was another key sector that saw marked growth last year.

DAFZA issued 201 licenses and the number of registered UK companies rose 25 per cent.

HH Sheikh Ahmed bin Saeed al Maktoum, chairman of Dubai Airport Freezone, said it will continue to provide DAFZA with “all the support it needs” to ensure it continues to rank among the top global freezones.

Dr. Mohammed Al Zarooni, DAFZA’s director general, said the freezone’s location, next door to Dubai International Airport, has made it favourable to foreign companies, together with the availability of “many facilities, hassle-free procedures and investment opportunities”. The total number of companies currently stands at 1,600.

A new project underway (main picture) includes a food court with mixed-use recreational business facilities, seven floors dedicated to new offices for international organisations and a building dedicated to DAFZA’s strategic partners from various governmental institutions. The main power station will increase capacity by 40 per cent to accommodate this growth.

A multi-storey car park with capacity for 850 cars is also being built as part of the AED300 million project. Phase one is expected to be completed in 2015.

DAFZA held a number of bilateral agreements with different entities which included Dallas Fort Worth Airport and HSBC Bank to introduce financing solutions for foreign investors.

It is in the process of finalising co-operation agreements with Dubai Chamber of Commerce and Du.