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Free Zones Of UAE
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- Ajman Free Zone (AFZ)
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UAE Freezones Biz News Updates
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DMCC growth sets the stage for major expansion
260 companies joined DMCC’s Free Zone in April alone
The Dubai Multi Commodities Centre Authority announced that it registered
1,270 new member companies in the first six months of 2013. A
record-breaking 260 companies joined DMCC’s Free Zone in April alone,
bringing the total number of companies operating at DMCC to more than 6,890,
a 30 per cent increase compared to the same period in 2012.
DMCC’s Free Zone, the fastest growing and soon to be the largest in the UAE,
is firmly set to meet its commitment made in early 2011 to be home to more
than 7,200 companies by the end of 2013.
In just 11 years, DMCC’s members and thriving trading community has
contributed between $9-12 billion (Dh33-44 billion) towards Dubai’s GDP and
continues to demonstrate its strength with major organisations joining the
Free Zone in H1 2013 such as General Mills, United Arab Bank, Medcare
Hospital and the Moscow University for Industry and Finance, Landmark
International Hotels and Noor Islamic Bank.
This continued growth, the increased demand for commercial space combined
with DMCC’s significant GDP contribution, are some of many reasons why its
executive chairman, Ahmad Bin Sulayem, recently announced that DMCC is to
build the world’s tallest commercial tower as part of its expansion plans of
a 107,000 square metre business park. Currently in the concept design phase,
the DMCC business park and world’s tallest commercial tower will offer
premium commercial and retail space for lease and sale, to accommodate
demand from large corporations and multi-nationals.
Bin Sulayem said: “The first six months of 2013 further demonstrate DMCC’s
strength and commitment to establishing Dubai as the global hub for
commodities trade and enterprise. With an average of 200 new companies
joining DMCC every single month, 95 per cent of which are new to Dubai, DMCC
will be largest Free Zone in the UAE before the year end. Our new expansion
plans, including the DMCC business park and the world’s tallest commercial
tower, are the next natural steps to ensure we continue to welcome companies
to the free zone as demand grows — particularly from large regional
corporations and multi-nationals — as we remain focused on making a material
contribution to Dubai’s economy.”
In the first half of the year, trade volumes of rough diamonds increased by
10 per cent to 66 million carats, and the value increased by five per cent
to $6.2bn compared to the same period last year. A total of 32.4 million
carats were imported in the first half of the year at a value of $2.5bn, a
nine per cent and seven per cent increase over the same period in 2012. In
addition, total exports in carats grew by 12 per cent to 34 million carats
and by three per cent to $3.7 billion, compared to the same period in 2012.
July 10, 2013 |
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Courtesy Al Nisr Publishing LLC
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