Dubai Multi Commodities Centre Authority (DMCC) said it has registered over 1,000 firms in the first ten months of the year at the Jumeirah Lakes Towers (JLT) Free Zone in the emirate.

DMCC is is the master developer and licensing authority for (JLT) Free Zone, one of the largest, fastest growing mixed-use developments in Dubai.

This takes the total number of registered companies to over 3,600, up 38 per cent compared to the 725 companies DMCC had registered last year, said a senior official.

Ahmed bin Sulayem, executive chairman, DMCC, said, 'Every year, we challenge ourselves to set new records and this year is no exception. Registering 1,000 new companies in just 10 months is testimony to the success of our business strategy.'

'Our solid growth clearly highlights Dubai’s position as the leading business destination in the region as well as our position as one of the fastest growing mixed-use free zones in the UAE.'

'Going forward, we will focus on driving company registrations, introducing new and improved services and innovative products, as well as investing in JLT’s infrastructure and so pursuing our mission to enhance trade flows through Dubai,' he noted.

DMCC said it continues to attract companies to the JLT Free Zone from a wide-range of business sectors, industries and geographies.

Of these new companies over 90 per cent are first time entrants to Dubai with registrations equally balanced between well-established multinationals like Diamdel (De Beers Group) or Harley Davidson and small and medium enterprises and entrepreneurs.

Malcolm Wall Morris, CEO of DMCC, said:'Our success lies in our unique fit-for-purpose regulatory framework and diverse range of value-added services combined with a modern infrastructure and both commercial and residential free-hold property in an enviable location.'

'Our growth has also been supported by the introduction of our new client service centre which is assisting us in registering over 100 companies a month, whilst servicing existing customers.'

'The JLT Free Zone also continues to grow as a thriving community with over 23,000 residents and more than 10,000 employees working in JLT Free zone based companies,' Morris added.-TradeArabia News Service