Dubai: Jafza attracts 26 construction firms in eight months
Jebel Ali Free Zone (Jafza), a subsidiary of Dubai-based ports operator DP World, said that it attracted about 26 steel and construction material companies from 17 countries during the first eight months of 2017.
The Middle East acquired the majority share of these companies with 11 firms, followed by Europe and Asia-Pacific region with eight and seven companies, respectively, reported Emirates news agency Wam, citing a Jafza statement.
The steel and construction materials companies are expected to maintain their growth in the coming years on the back of the huge volume of the construction projects in the Middle East, DP Worlds Chairman Sultan Ahmed bin Sulayem stated. ”Jafza has allocated 1.1 million sq m of land for steel and building material companies, which highlights their importance. This is part of our support of the vision of the countrys leadership to diversify the national economy in a post-oil era.”
Jafza said that trade in steel and building material reached AED13.5bn during 2016 with further increases expected as the free zone continues to develop services for companies in the sector.
Jafza has more than 967 companies operating in the steel and building materials sector from 87 countries around the world. Around a third (37%) are Middle East-based, 27% are from the Asia-Pacific region, 26% from Europe, 7% from North America, and 3% from Africa. Indian businesses have the largest share of 14% with UAE-based companies at 13%. The sector employs more than 18,000 people, which is 13% of total Jafza sponsored employees.
