DAFZA posts 16% growth in 2016
The Dubai Airport Freezone Authority (DAFZA) has achieved a 16% growth in net profit, increasing its total leasable area of multinational companies by 44%
The Dubai Airport Freezone Authority (DAFZA) has achieved a 16% growth in net profit, increasing its total leasable area of multinational companies by 44%.
The freezone posted a 2% growth in its total revenue with a 28% increase in its total assets and a 3% rise in EBID, according to a press statement. Total leased office space also increased by 13%, while leased light industrial units increased 25%.
DAFZA also continues to focus on Foreign Direct Investments (FDI) from major global markets, especially those from the UK, USA, Germany, India, France, Japan, Switzerland, Italy and Singapore.
HH Sheikh Ahmed bin Saeed Al Maktoum, Chairman of DAFZA, said: “DAFZA proved its instrumental role in enhancing the overall performance of Dubai’s freezones last year.
“It demonstrated the highest levels of competitiveness, excellence and efficiency in overcoming a challenging global economic climate. Supported by an integrated portfolio of effective economic and investment solutions, DAFZA drew in significant foreign direct foreign investments from vital sectors.”
The growth is also attributed to DAFZA’s continuing commitment towards utilizing an innovative approach in the provision of smart solutions that can attract international investors looking to establish a strong presence in the markets of the Middle East, North Africa and South Asian (MENASA) regions.
DAFZA contributed $30bn to Dubai’s non-oil foreign trade in 2015.