Dafza posts 16pc growth in profit
DUBAI, 23 days ago
The Dubai Airport Freezone Authority (Dafza) performed strongly in 2016, achieving 16 per cent profit growth and a 2 per cent growth in total revenues.
Dafza also registered a 28 per cent increase in its total assets and a 3 per cent rise in EBID, a statement said.
According to official reports, the total leasable area of multinational companies occupying the free zone rose by 44 per cent, while total leased office space increased by 13 per cent. The leased light industrial units grew as well by 25 per cent, due mainly to growing confidence among international companies in Dafza’s capabilities as well as the numerous business and investment opportunities available in Dubai, it said.
Dafza accounted for Dh109.82 billion of Dubai's non-oil foreign trade for 2015, representing 9 per cent of the emirate’s total trade and 20 per cent of total free zones trade for the same period.
Sheikh Ahmed bin Saeed Al Maktoum, chairman of Dafza, said: “Dafza continues to move forward in terms of leadership and excellence, driven by its strong operational performance and positive financial results which have proven once again that it is one of the world’s top free zones.”
Dr Mohammed Al Zarooni, director general, Dafza, said: “Dafza’s strong performance in 2016 was not surprising and adds to already numerous achievements that have propelled Dafza among the ranks of the most innovative and competitive free zones in the world. Our series of successes affirms our outstanding competitiveness and our ability to overcome emerging challenges within the regional and international markets. We have further strengthened the UAE economy and helped increase Dubai’s GDP by capitalising on investment prospects to build a strong, competitive and diversified economy which can achieve more prosperity in the future.”
Dafza has implemented a strategic expansion plan that has resulted in the 40 per cent completion of the 'Dafza Square' initiative, which is expected to be fully complete by 2017.
In line with the move to promote its potential and capabilities and to be able to keep up with the growing demand for services and multiple solutions, Dafza has started construction on two new buildings W14 and W18. The two new facilities are being constructed in compliance with US Green Building Council (USGBC) standards and in line with requirements of the Gold Rating Level of the Leadership in Energy and Environmental Design (LEED Gold) standard.– TradeArabia News Service