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Dubai’s DMCC registered 1,969 new companies in 2019

Dubai’s DMCC registered 1,969 new companies in 2019

The free zone marked a year-on-year registration growth rate of 5.4 per cent

Dubai Multi Commodities Centre (DMCC) registered 1,969 new companies in 2019, marking a year-on-year growth rate of 5.4 per cent.

The free zone finished off the year with the strongest fourth quarter in terms of registrations in the last four years, a statement said.

A total of 559 companies signed up to the free zone in Q4 2019, marking a 20 per cent increase compared to the same period in 2018, while October 2019 positioned itself as the strongest month in two years, with 202 new member companies being registered, amplifying DMCC’s position as an interconnected business district.

New member companies include start-ups, SMEs and multinational firms across diverse sectors.

More than 100,000 people live, work and thrive in JLT, facilitated by DMCC’s smart district solutions, the statement said.

“We added 2,000 companies from a variety of backgrounds and sectors in 2019, and are now home to over 17,000 companies,” said Ahmed Bin Sulayem, executive chairman and chief executive officer, DMCC.

“DMCC continues to attract foreign direct investment to Dubai from key international markets including China and India. We look forward to welcoming more companies in 2020 and in turn, increasing our contribution to Dubai’s GDP and the wider national economic diversification strategy,” he added.

In 2019, DMCC launched its upgraded Dubai Diamond Exchange (DDE) auction facility, the world’s largest diamond trading floor located at the Almas Tower in Jumeirah Lakes Towers. DDE is the only Middle Eastern exchange accredited by the World Federation of Diamond Bourses (WFDB).

Read more: Dubai’s DMCC unveils world’s largest diamond trading floor

Also read: DMCC retain’s world’s top free zone crown

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