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Dafza posts 27% increase in new rental revenues

The Dubai Airport Freezone Authority (Dafza) has announced its business results for the first half of 2018, recording a 27 per cent growth of new rental revenues and a 15 per cent growth in the number of registered companies over the same period in 2017.
Dafza also recorded an 11 per cent growth in operational profit, and an eight per cent growth in total revenues, as a result of Dafza's strategic plan set in early 2017, which is in line with the objectives of the Dubai Plan 2021. The results include a 10 per cent increase in licensing revenues and a 31 per cent increase in revenues from government services.
Sheikh Ahmed bin Saeed Al Maktoum, chairman of the Dubai Airport Freezone Authority, said: "Dafza's remarkable performance results for the first half of 2018 showcases the expected success of the plans developed by Dafza to promote sustainable economic development in the emirate. It is also the result of the initiatives and investment incentives launched by the Government of Dubai which have been guided by the wise leadership in order to attract foreign direct investment from international companies."
Sheikh Ahmed also pointed out that these achievements demonstrate Dafza's commitment to providing a world-class business model that enables Dafza to assume a leading position among the most progressive free zones in the world.
The success witnessed by Dafza came with a steady increase in leasable area reaching 43 per cent compared to 2017, with a 63 per cent growth in warehouses and 29 per cent increase in office space. In addition, Dafza Industrial Park witnessed an occupancy rate of 82 per cent during the first half of this year. A five per cent increase was also seen in the number of multinational companies at Dafza. The first half of 2018 also witnessed an increase in the number of registered SMEs by 17 per cent.
Dr. Mohammed Al Zarooni, director general of Dafza, highlighted that the results underscore the flexible business and investment environment provided by Dafza to its various segments of global investors. He pointed out that Dafza's team has a great responsibility to continue the journey of progress and build on the success during the next phase. This falls in line with government plans and economic targets set by the country's leadership for the coming years.
In the first half of 2018, Dafza continued to attract foreign direct investment which helped boost its regional competitiveness and revive various key sectors. Dafza recently announced a 65 per cent reduction in business start-up fees, in line with Dubai's efforts to become an ideal destination for investment and to consolidate the stability of free zone companies' operations in order to sustain investments.
- rohma@khaleejtimes.com