Jafza attracts over 500 new companies in 2017
DUBAI, April 7, 2018
Jebel Ali Free Zone, the region’s premier trade facilitator and hub, said a total of 513 new companies had last year selected Jafza to set up their operational base, thus reaffirming its position as a destination of choice for businesses.
New companies represent a nine per cent increase in Jafza’s portfolio compared with the 470 new companies that registered in 2016. The number of countries from which they come from also rose from 56 to 64 year-on-year.
Jafza’s flagship commercial property, Jafza One, achieved 42 per cent growth in its customer base with a 20 per cent rise in occupancy and a 49 per cent increase in leased offices, marking its best annual performance.
Sultan Ahmed Bin Sulayem, Jafza Group Chairman and CEO of DP World, said: "Jafza has again proved its ability to attract businesses, retain them and act as a catalyst for growth. The dynamic model we’ve created through more than 33 years of experience reduces cost for investors, while enabling new opportunities for growth."
"Our ability to consistently outperform the industry even in adverse global economic conditions confirms the status of Jafza as a global destination for foreign companies keen on expanding across the Middle East and Africa markets," he stated.
Jafza is one of Dubai’s success stories that has developed in line with the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai to make the emirate a hub for business and commerce.”
The new-comers have increased the Free Zone’s active customer base to over 7,500 in 2017. A regional breakdown of the number of companies in Jafza shows that the Middle East dominates with 49 per cent, followed by Asia-Pacific at 28 per cent, Europe 15 per cent, Africa 5 per cent and the Americas 3 per cent.
The electronics & electrical sector continues to lead accounting for 16 per cent of all Jafza-based companies, followed by machinery & equipment (13 per cent); foodstuffs, livestock & agricultural products, retail & general trading and vehicle & transport (all at 11 per cent).
The other industry verticals are metal, steel, construction and services (all at 8 per cent); Chemicals (7 per cent) healthcare and pharma (5 per cent); oil and gas abnd logistics (each at 4 per cent) and other sectors ccounting for two per cent.
Jafza One, is located at the heart of the business community adjoining Jebel Ali Port, rated among the Top 10 container ports globally.
Jafza is a dynamic base for more than 7,500 businesses, from over 100 countries, sustaining over 150,000 jobs. It accounts for almost 32 per cent of total FDI (Foreign Direct Investment) flows into the UAEand contributes 21 per cent of Dubai’s GDP on a yearly basis. In 2016, it generated trade worth $80.2 billion.-TradeArabia News Service
