Dubai – Mubasher: Dubai Airport Freezone Authority (DAFZA) posted an 8% year-on-year growth in revenues during the first half of 2018.
Licensing revenues increased by 10% in the six-month period ended June, while revenues from government services rose by 31%, as compared with the prior-year period, the free zone said in a statement.
The positive figures were mainly driven by DAFZA’s strategic plan set in early 2017, which comes along with the Dubai Plan 2021’s ambitious objectives, the statement added.
DAFZA reported a solid increase in leasable area at 43% in H1-18, compared to the prior-year period, with a 63% surge in warehouses and 29% increase in office space.
Occupancy rate at DAFZA Industrial Park, the first expansion project outside DAFZA’s boundaries in Al Qusais Industrial Area, hit 82% at the end of June, according to the statement.
Moreover, DAFZA witnessed a 15% year-on-year growth in the number of registered companies in H1-18, including a 5% in the number of multinational companies and a 17% rise in the number of registered SMEs.
“DAFZA’s remarkable performance results for 2018 H1 showcase the expected success of the plans developed by DAFZA to promote sustainable economic development in the emirate, chairman of DAFZA Ahmed bin Saeed Al Maktoum said.
The firm's robust performance in the first six months of this year is also a fruit of Dubai government's initiatives and investment incentives in an effort to attract foreign direct investment from overseas companies, he continued.
DAFZA last unveiled a 65% cut in business start-up fees, in line with Dubai's efforts to become an ideal destination for investment and prosperity and to maintain the stability of free zone companies’ operations to boost investments and support their growth.