| 18 Aug 2010 |
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DAFZ sales climb 63% in first half
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Wednesday, Aug 18, 2010
Dubai: Dubai Airport FreezoneDubai Airport Freezone
(DAFZ), home to some of the world's major corporate names, saw first-half sales increase 63 per cent over the same period last year, a clear sign of returning investor confidence in the city."The results of the first six months recorded by DAFZ is evidence of the healthy business environment in Dubai in particular and the UAE in general. It also shows the interest of international companies to establish their operations in the country," Shaikh Ahmad Bin Saeed Al Maktoum, Chairman of DAFZ, President of Dubai Civil Aviation and Chairman and Chief Executive of Emirates airline and Group, said in a statement.
The number of companies expanding offices saw a rise of 80 per cent, taking up an additional 64 per cent of office space. The increased business led to operating profits rising to 11 per cent "above targets", DAFZ said.
Last year, DAFZ recorded a total net profit of Dh175 million.
"The increase in the number of American and European companies in the first six months by 50 per cent compared to last year is evidence of the innovative services and unmatched facilities Dubai Airport FreezoneDubai Airport Freezone renders to its clients," said Shaikh Ahmad.
Based next to one of the world's busiest airports and providing a tax-free environment, the free zone houses over 1,500 companies, the majority of which are from Europe and the United States. The January to June period also saw a 25 per cent increase in companies from Asia and Middle East.
The freezone will add 75,000 square metres next year and has plans to expand a further 230,000 square metres starting in 2012, director-general of DAFZ Mohammad Ahmad Al Zarouni said in an earlier interview.
DAFZ's contribution to the country's gross domestic product is on the rise and it continues to attract foreign direct investment.
Shaikh Ahmad said: "This achievement will further encourage us to do more for our international clients in terms of the quality of services and the facilities we provide."
Earlier this year, DAFZ was named the best free zone in the Middle East region and the second best in the world by the Foreign Direct Investment (fDi) magazine of Financial Times. Competing with more than 200 other free zones worldwide, DAFZ placed behind Shanghai Waigaoqiao Free Trade Zone and ahead of Mexico-based Free Zone San Luis Potosi.
DAFZ's strategy since inception has been to stress on the quality of companies it houses to provide sustainable growth in contribution to GDP. The free zone contributes 2.2 per cent to the UAE's GDP.
Construction has already started on one of the eight buildings and a hotel that will add a built-up area of 305,000 square metres.
JafzaJafza licence: online system stepped up
The Jebel Ali Free Zone Authority (Jafza)Jebel Ali Free Zone Authority (Jafza) said yesterday that trade licence-related transactions will only be processed online in future.
JafzaJafza's online service, e-License, has seen a good response since it was launched in March, with more than 1,000 licences renewed online in the first month, it said in a statement.
© Gulf News 2010. All rights reserved.
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