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Jafza's client base climbs 9% in 2017

Dubai - Electronics and electrical sector continues to lead, accounting for 16% of all companies

A total of 513 new companies chose Jebel Ali Free Zone (Jafza) as their operational base in 2017, reaffirming its position as a destination of choice for businesses.
New companies represent a nine per cent increase in Jafza's portfolio compared to the 470 new firms that registered in 2016. The number of countries from which they come from also rose from 56 to 64 year-on-year.
Jafza's flagship commercial property, Jafza One, achieved 42 per cent growth in its customer base, with a 20 per cent rise in occupancy and a 49 per cent increase in leased offices, marking its best annual performance.
Sultan Ahmed bin Sulayem, group chairman and chief executive officer of DP World, said: "Jafza has again proved its ability to attract businesses, retain them and act as a catalyst for growth. The dynamic model we've created through more than 33 years of experience reduces cost for investors, while enabling new opportunities for growth."
The newcomers increase the free zone's active customer base to over 7,500 in 2017. A regional breakdown of the number of companies in Jafza shows that the Middle East dominates with 49 per cent, followed by tje Asia-Pacific at 28 per cent, Europe at 15 per cent, Africa at 5 per cent and the Americas at 3 per cent.
The electronics and electrical sector continues to lead, accounting for 16 per cent of all Jafza-based companies, followed by machinery and equipment with a 13 per cent. Foodstuffs, livestock and agricultural products; retail and general trading; and vehicle and transport were all next with 11 per cent.
Other industry verticals are metal, steel and construction (8 per cent); services (8 per cent); chemicals (7 per cent); healthcare and pharma (5 per cent); logistics (4 per cent); oil and gas (4 per cent); and other sectors (2 per cent).
Jafza One is located at the heart of the business community adjoining Jebel Ali Port, rated among the Top 10 container ports globally.
Jafza is a dynamic base for more than 7,500 businesses from over 100 countries, sustaining over 150,000 jobs. It accounts for almost 32 per cent of total foreign direct investment flows ?into the UAE and contributes 21 per cent to Dubai's GDP on a yearly basis. In 2016, it generated trade worth $80.2 billion.
- business@khaleejtimes.com