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Dubai Airport Freezone Authority (DAFZA) has announced its key 2017 achievements, namely its 7% contribution to Dubai's non-oil trade represenitng 18% of total free zones trade within Dubai according to 2016 official statistics. The freezone's success is largely due to its strategic role in driving continuous economic development and high operational efficiency, as well as the creation of attractive investment opportunities and the adoption of a clear investment approach aimed at contributing effectively to the overall output of Dubai.
According to the official results, DAFZA has increased its leasable area by 6% compared to the same period of the previous year. This was due to the increasing demand of the freezone's business solutions and its product line up which were adapted to the requirements of the global markets to expand their businesses in the Middle East, Africa and Central Asia and explore their investment opportunities in Dubai.
DAFZA achieved a 25% growth in its registered companies compared to the same period last year. This reflects the success of its strategic initiatives which focused on increasing foreign direct investment flows to the freezone and providing an exceptional and seamless experience for regional and international companies. The New tenant's revenue contributed 8% of the total rental revenue for 2017, which was the result of highly relevant offers and packages provided by DAFZA.
There was a 34% increase in the registered companies within the office package segment offered by DAFZA compared to same period last year. This was launched by DAFZA following a comprehensive study and research that identified the needs of customers in order to ensure the strategic growth plans of the freezone.
Financial results showed an increase in total assets by 2% and an increase in licensing revenues by 16%. DAFZA's services, which include licenses, government services and other value-added services to customers, accounted for 18% of 2017 total revenues.
2017 witnessed a 13% growth in the number of registered multinational companies (MNCs). With this increase, MNCs now make up 36% of the total number of companies in the Freezone. This reflects the growing confidence of foreign investors and major international companies in DAFZA as one of the most important freezones in the UAE and the world. The freezone has become the leading destination for investment activities in Dubai as many international brands have selected DAFZA as their of choice for their regional operations over the past two decades.
As part of DAFZA's commitment to supporting the growth of small and medium enterprises (SMEs), 2017 witnessed a 27% increase in the number of registered SMEs compared to the same period the year before. This confirms the success of DAFZA's efforts to provide integrated solutions and services to ensure that such companies achieve growth and increase their productivity. This was achieved through specialized programs and qualitative initiatives in cooperation with several government and private entities. This comes in line with the vision of the UAE and Dubai to develop the freezone sector and to contribute to the growth of the national economy.
In 2017, DAFZA officially launched its first industrial expansion project outside its current location. DAFZA Industrial Park is located in Al Qusais Industrial Area and features modern industrial units supported by unique customs experience. DAFZA cooperated with Dubai Customs to make this industrial park the first zone with smart security and customs services. These services are delivered in an innovative and integrated center that automates processes, without the need for human intervention.
Both DAFZA and DAFZA Industrial Park were among the 20 freezones selected by the Cabinet Decision No. (59) of 2017, to be considered as a designated zone. Now, goods may be transferred among these areas tax-free, which has increased its attractiveness to new companies and foreign investors.
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