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Dubai Airport Freezone’s Expansion Plans Valued at Dh2B: Shaikh Ahmed

DUBAI - Shaikh Ahmed bin Saeed Al Maktoum, Chairman of the Dubai Airport Free Zone, said that Dubai has become more attractive to international investments during the global financial crisis and this critical stage that the markets are currently experiencing.

Shaikh Ahmed added that free zones in the country, Dubai Airport Free Zone in particular, now serves as key attraction with the increasing number of companies seeking to launch their operations in Dubai Airport Free Zone to extend their business and activities across the region.

The current global financial crisis has resulted in a slowdown in economic growth in several countries. This is bound to lead companies to search for a safe location away from the crisis in their search for stability and to escape the current crisis, Shaikh Ahmed added.

The UAE offers a strong and stable economic environment and the possibility of stable growth, especially across free zones which aim to attract international inward investment.

The free zones in the country have long experience and unique systems in place, and are ready to accommodate international companies and offering the required facilities and services to help achieve their business targets in a stable environment.

Shaikh Ahmed added that Dubai Airport Free Zone has achieved high growth rates in 2008 as occupancy for international companies increased by 58pc leading to 84 per cent increase in net profits and 59pc in revenues compared to 2007.

Shaikh Ahmed noted that these growth rates will continue given the current expansion plans which have allocated Dh2 billion for investment in new facilities to be ready for more foreign investment flow in the near future.

Despite space-limitations, Dubai Airport Free Zone has made optimum utilisation to provide more spaces for international companies and organisations.

Shaikh Ahmed also referred to the vital role Dubai Airport Free Zone plays in adding considerable value to the national economy, and Dubai’s economy in particular.

It focuses on attracting outstanding companies in different service sectors run by a professional team which has led to real growth in the emirate’s economy.

From the beginning Dubai Airport Free Zone was very clear on the type of companies they wanted to attract and their primary focus was the service industry as well as companies trading in high-value & low-volume products.

Shaikh Ahmed added that Dubai Airport Free Zone, which has more than 1500 international companies in different sectors such as, aviation industry, automobile, freight forwarding & logistics, telecommunication, electronics, jewellery and watches, precious stones, computer and accessories, pharmaceuticals & cosmetics, etc, has been the ideal location for such companies.

Shaikh Ahmed said: “We will continue this growth pattern and our strategy in attracting international companies and catering to their needs to achieve mutual economic interests.”

Dubai Airport Free Zone will continue with its expansion plans to accommodate more companies as the outer Ring Project has been completed with six additional buildings to accommodate more than 900 companies in addition to the head office building.