DAFZA achieves 16% net profit growth in 2016

The Dubai Airport Freezone Authority (DAFZA) performed strongly in 2016, reaching a 16 percent net profit growth, posting a 2 percent growth in total revenue, a 28 percent increase in total assets and a 3 percent rise in Earnings Before Interest and Depreciation (EBID).

According to official reports, the total leasable area of multinational companies occupying the Free zone rose 44 percent, while total leased office space increasing by 13 percent. Also, the leased light industrial units grew by 25 percent, mainly due to the growing confidence among international companies in DAFZA’s capabilities, as well as the numerous business and investment opportunities available in Dubai. DAFZA accounted for AED109.82 billion of Dubai's non-oil foreign trade for 2015, representing 9 percent of the emirate’s total trade and 20 percent of total free zones trade for the same period?. ????? Sheikh Ahmed bin Saeed Al Maktoum, Chairman of DAFZA, noted, "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. We are inspired by the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister and Ruler of Dubai, who taught us not to be afraid of difficulties as we strive to become a world leader.

"DAFZA proved its instrumental role in enhancing the overall performance of Dubai’s 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 investments from vital sectors,'' Al Maktoum added.

Dr. Mohammed Al Zarooni, Director-General, Dubai Airport Free Zone Authority, added, "DAFZA’s strong performance in 2016 adds to the already numerous achievements that have propelled DAFZA among the ranks of the most innovative and competitive free zones in the world. 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.

"We are committed to providing an ideal business environment to attract international companies and foreign capital, as well as supporting economic diversification and promoting openness in trade with the global markets. We shall achieve this by focussing on providing world-class infrastructure, unique investment incentives and innovative solutions, in line with our vision of a ‘Free zone that goes beyond’ and supports the national and global economic systems", Dr. Al Zarooni noted.