Trade of building materials at Dubai's JAFZA hit $3.7bn in 2016
JAFZA, the free zone that is a part of DP World, comprises 110ha of land for steel and building materials companies within its premises
The value of trade in Jebel Ali Free Zone's (JAFZA) steel and building materials sector amounted to $3.67bn (AED13.5bn) in 2016, it was revealed.
JAFZA, which is a part of DP World, comprises 110ha of land for steel and building materials companies within its premises.
More than 967 companies related to construction materials operate in JAFZA, of which 37% are Middle East-based.
Indian businesses comprise 14% of JAFZA's steel- and building materials-related operations, and global companies with regional headquarters in JAFZA include Arcelor Mittal, Bao Steel, Sumitomo Corporation, Tata Steel, and Nippon Steel.
Steel and building materials companies in the free zone employ more than 18,000 people, which is worth 13% of JAFZA's overall sponsored employees.
Commenting on JAFZA's prospects for construction companies, Sultan Ahmed bin Sulayem, group chairman and chief executive officer of DP World, said: "Ongoing construction projects in the UAE and GCC are a strong boost for the metal, steel, and construction sector in JAFZA, as companies benefit from the growth in development projects throughout the region.
"The robust health of this vital sector of the economy reflects the ongoing infrastructure development and the role JAFZA plays in enabling companies to maximise their potential by providing comprehensive services.
"This is part of our support of the vision of the country’s leadership to diversify the national economy in a post-oil era."
Sulayem was speaking ahead of JAFZA's participation in The Big 5 2017, which kicks off today at Dubai World Trade Centre, and will be held till 29 November, 2017.