Dubai: DAFZA achieves 16% net profit growth in 2016
Dubai Airport Freezone Authority (DAFZA) performed strongly in 2016, achieving 16% net profit growth and posting a 2% growth in its total revenue and a 28% increase in its total assets.
According to official reports, the total leasable area of multinational companies occupying the freezone rose by 44%, while total leased office space increased by 13%. The leased light industrial units grew as well by 25%, due to growing confidence among international companies in DAFZAs capabilities as well as the numerous business and investment opportunities available in Dubai.
DAFZA accounted for AED109.82bn of Dubai’s non-oil foreign trade for 2015, representing 9% of the emirates total trade and 20% of total free zones trade for the same period?.
HH 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 worlds top free zones. The uninterrupted success of the freezone affirms its exceptional ability to address challenges and maximize opportunities for supporting nationwide efforts to usher in a post-oil economy and turning Dubai into a major pillar of the global economy.
He added: DAFZA proved its instrumental role in enhancing the overall performance of Dubais free zones last year. It demonstrated the highest levels of competitiveness, excellence and efficiency in overcoming a challenging global economic climate. Supported by an integrated portfolio of effective economic and investment solutions, DAFZA drew in significant foreign direct foreign investments from vital sectors. We are confident of even more promising prospects as we prepare to launch our Strategic Plan for 2017-2021 which will implement ambitious initiatives in line with the strategies and directives of the wise leadership of the UAE.
HE Dr Mohammed Al Zarooni, director general, Dubai Airport Freezone Authority, said: DAFZAs 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 Dubais GDP by capitalising on investment prospects to build a strong, competitive, and diversified economy which can achieve more prosperity in the future.