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Dafza contributes Dh109bn to Dubai's trade in 2014

By Staff

The Dubai Airport Free Zone Authority (Dafza) has contributed Dh109 billion to Dubai’s non-oil foreign trade last year, said a press statement.

Its net profit grew 48 per cent in 2014 over the previous year, with total revenues up by 13 per cent. The authority’s total assets also climbed by 3.42 per cent.

As a result of Dubai’s dynamic business activity, the demand for high-quality office spaces rose, meeting the needs of investors from around the world. Consequently, Dafza witnessed an 11.25 per cent increase in office space acquisition and related revenue growth of 18 per cent in 2014.

Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dafza, said: “Dafza’s strong performance in 2014 reflects our commitment to effectively contribute to Dubai’s economic development and solidify the leadership of Dubai as a global hub for business and investment. The positive financial results for 2014 reflect Dafza’s vital role in attracting international investors and increasing more foreign capital inflows, which add value to the national economy.”

Dr. Mohammed Al Zarooni, Director General, Dafza, said: “We look forward with optimism this 2015 as we work to maintain a leading role in achieving the Dubai Government's strategy through the freezone’s expansion and its thrust towards diversifying its business portfolio and investments to emphasize its role as a major contributor to the emirate’s GDP.”

To be inaugurated in 2015, Dafza Square aims to meet the demands of regional and global multinational companies. It features seven- and four-storey buildings for multinational companies and Dafza’s government partners; a bank; a business center; a gym; food court; and shopping stores.

Major multinational companies joined Dafza – including Bentley and Robertet S.A., Safilo Middle East, Mitsubishi, and Middle East Roper. About 27 per cent of companies registered in Dafza are multinational firms.

European and American companies topped the list of Dafza clients at 41 per cent, followed by GCC companies at 30 per cent and Asian firms at 17 per cent with the rest accounting for 12 per cent.

Dafza issued 68 per cent trade licences, 31 per cent services licences, and 1 per cent industrial licences.

Dafza plans to start solar energy project to be delivered by Q4 2016 to reduce the freezone’s carbon footprint by 50 per cent.