DWTCA sees registered companies grow by 19 per cent in H1

Image: Dubai Media Office

Dubai World Trade Centre Authority (DWTCA) free zone has reported a rise in key performance metrics for H1 2024, highlighting an increase in tenant numbers, registered companies, and direct job creation.

According to the latest figures, the free zone saw a substantial 21 per cent rise in the number of tenants, reaching 2,735 by the end of H1 2024, up from 2,259 in the same period last year.

The number of registered companies also grew by 19 per cent, climbing to 2,818 from 2,366 in H1 2023.

Additionally, direct job creation within the free zone increased by 5 per cent, with the number of jobs rising to 8,223 from 7,837.

Abdalla Al Banna, VP of Free Zone Regulatory Operations at DWTCA, attributed this robust performance to the free zone’s alignment with the D33 Agenda’s ambitious objectives.

“The DWTCA free zone has demonstrated exceptional performance aligned with the D33 Agenda’s visionary goals. Our dedication to providing a dynamic and business-friendly environment has resulted in significant benefits for the enterprises operating within our jurisdiction,” said Al Banna.

Read: DWTC’s Abdalla Al Banna shares how the free zone is supporting Dubai’s D33 agenda

DWTCA: Expansion and Innovation

In H1 2024, DWTCA expanded its jurisdiction to include One Za’abeel, an iconic sustainable development by the Investment Corporation of Dubai. This addition not only increased the Free Zone’s rental space but also extended its suite of benefits to tenants in the landmark development.

These benefits include 100 per cent foreign ownership, exemption from customs duties, dual-licensing opportunities, zero per cent corporate tax, and simplified visa and permit procedures, alongside a range of flexible office solutions.

The free zone also entered a new partnership with Emaratech, a subsidiary of the Investment Corporation of Dubai, to digitise and integrate government services across DWTCA.

This collaboration aims to streamline the application and processing of visas, establishment cards, and other documentation, enhancing efficiency for businesses operating within the free zone.

Additionally, DWTCA initiated a training and development programme in collaboration with Dubai’s Department of Economy and Tourism (DET) to enhance access and opportunities for national talent in the free zone sector.